JP Morgan officially join on the world of cryptocurrencies.
The engineers of the US company JPMorgan have just created their own JPM Coin digital currency, which will be used for transactions between customers.
The cryptocurrency of JP Morgan: what is JPM Coin?
JP Morgan‘s cryptocurrency “JPM Coin” is currently designed for business-to-business money movement flows.
Each JPM Coin will be linked to the single US dollar, and will enter the stablecoins category. Customers will deposit dollars at the bank and in return will receive tokens. After a payment or security purchase on the blockchain, the coins will be destroyed by JP Morgan
are transferred and instantaneously redeemed for the equivalent amount of U.S. dollars
- JPM Coin will be used to make international payments between large corporate customers.
- With JPM Coin it will be possible to say “goodbye” to the time limits for the transactions that can be carried out at all hours of the day.
JPM Coin available now? The bank said it tested the coin this month. For now, it’s a prototype that the bank plans to test more widely this year.