JPMorgan’s crypto payment system processes $1 billion daily

The bank is now investigating how it might provide a consumer-friendly digital deposit token.

He further said that the coin is traded mostly in USD on a regular basis. The bank’s JPMorgan Coin introduced euro-denominated transactions in June 2023.

CoinTelegraph stated in June 2023 that JPMorgan Coin has processed $300 million in transactions since its introduction in 2020.

JPMorgan Coin is a digital currency issued by JPMorgan Chase that enables wholesale customers to transact in dollars and euros via an internal blockchain. Although the digital asset token only represents a tiny fraction of the billions of dollars in transactions that JPMorgan processes every day in U.S. dollars, it is still an offering by a major bank on a working blockchain platform.

The financial services provider operates a blockchain-based repo program and is interested in investigating a digital deposit token to improve international payments. Next, Georgakopoulos says, “Consider how you can develop a retail version of that to offer consumers the same level of efficiency.”

On November 14th, Benzinga will host the Future of Digital Assets conference in New York. Improve user experience by learning about additional currency payments at this event. A lot of people in the digital assets industry think this conference is really important. The seminar will focus on recent developments, breakthroughs, and difficulties in the field of digital assets.

Also Read: Deutsche Bank And Standard Chartered Test An Option To SWIFT For Digital Currencies