The International Investment Bank and Bitcoin's renowned JPMorgan Chase skeptic will be the first American bank to release its own cryptoLight.
JPMorgan: "Endless" cases of crypto-wave
Umar Faruk, head of JPM Coin's research will begin in the coming months and three cases of use have already emerged.
"Applications are frankly endless; nothing where you have a distributed book that includes corporations or institutions can use that, "he said in an interview on Feb. 1
JPMorgan is likely to shock the financial sector from this move after he has taken a broadly hostile attitude towards cryptoLight in recent years. ” width=”980″ height=”613″/>
As Bitoniin Bitcoinist reports, CEO Jamie Dijman became known after dubbing Bitcoin "scam" in 2017 – managing to move Bitcoin's entire price into the process . ] Dimon, as he seems to U-turn the remarks, later promised not to mention Bitcoin again publicly. Meanwhile, other executives seemed warm for the crypto-industry industry, the rumors that circulated last year, JPMorgan will even launch tools related to the battlefield.
In May, the bank filed a patent for an interbank payment system for interbank P2P networks, with payments between Big Corporate Clients now focusing on JPM Coin.
"Money moves back and forth all over the world into a big enterprise," Farouk continues.
"Is there a way to ensure that a subsidiary can represent cash in the balance sheet without actually having to transfer it to the unit? This way they can consolidate their money and probably get better rates for it.
JPM Coin will also see a sale of securities transactions as part of JPMorgan's treasury services.
Only the "small" "The size of the total flows involved in these areas will use cryptoLight to start, JPM coins act as a substitute for a 1: 1 dollar similar to a stable one."
Even if it was limited to JPM clients at institutional level
Last year saw Bank co-chairman Daniel Pinto admit that the crypto-grade "will play a role" in the future global economy. the concept is valid, you have many central banks that think about it, "he said, speaking at CNBC in May.
"Marking the economy for me is real. Cryptotlutes are real, but not in the current form. "
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