Bloomberg revealed on Thursday that the massive American banking company JPMorgan (JPM) now processes $1 billion worth of transactions daily using its digital currency, JPM Coin.The article, which quotes an interview with the bank’s head of payments, Takis Georgakopoulos, claims that the Wall Street Bank intends to increase the use of the coin.
JPMorgan’s institutional clients can now conduct wholesale payments across accounts globally using blockchain technology thanks to JPM Coin, a settlement token.JPM Coin was launched in 2019 and has only been used to make dollar-denominated payments thus far. In June, support for euros was introduced.
“JPM Coin gets transacted on a daily basis mostly in U.S. dollars, but we again intend to continue to expand that,” Georgakopoulos said.