JPM Coin, which is more stable than stablecoins, in addition to the US dollar, JPMorgan Chase also entered the euro market

JPMorgan Chase launched its own Onyx blockchain network in 2020. It is an early traditional financial institution that embraced blockchain technology. They also issued their own deposit token JPM Coin, which anchors the US dollar at 1:1. Customers deposit in JPMorgan Chase’s U.S. dollars can be converted into JPM Coin, allowing capital flows to be verified by the Onyx system and used as payment and account records in real time, solving the time-consuming process of traditional finance passing through layers of checkpoints.
According to a Bloomberg report, JPMorgan started trading in the euro last week. Germany's Siemens was a participant in the first euro payment on the platform, which was a cross-border transaction, said Basak Toprak, head of Coin Systems at JPMorgan in Europe, the Middle East and Africa.
While major banks have spent nearly a decade exploring the use of blockchain to improve their processes, few have actually done it commercially at scale. JPM Coin is a rare example of a big bank actually using blockchain, but it's a tiny part of JPMorgan's payments business. Since its launch, the bank has processed about $300 billion in transactions using JPM Coin. In comparison, JPMorgan processes nearly $10 trillion in payments a day in total.
JPM Coin, which is more stable than stable coins: Good for traditional finance, JPMorgan Chase is optimistic about the "deposit tokens" issued by banks #币圈 #财经