JPMorgan is expanding its JPM Coin deposit token to Ethereum, allowing institutional clients to make payments and settle tokenized asset transactions.
Update (Oct. 20, 4:35 am UTC): This article has been updated to include comments from a JPMorgan spokesperson.
JPMorgan Chase, the world’s biggest bank by market capitalization, is expanding its JPM Coin deposit token to Ethereum.
In an announcement sent to Cointelegraph, JPMorgan said JPM Coin represents US dollar deposits held at the bank and lets eligible clients transfer funds within seconds, around the clock. A spokesperson told Cointelegraph that JPM Coin has been technically deployed on the Ethereum mainnet.
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