Coinspeaker
JPMorgan Introduces Euro-Dominated Transaction Settlement for Corporate Clients
American multinational investment bank JPMorgan Chase & Co (NYSE: JPM) has introduced euro-dominated payments for its corporate clients as unveiled by Basak Toprak, JPMorgan’s head of Coin Systems for Europe, the Middle East and Africa. This was delivered as part of the investment giant’s plan to expand one of the most high-profile projects to bring blockchain technology to traditional banking through JPM Coin.
Four years ago, JPMorgan launched the world’s first bank-backed cryptocurrency dubbed JPM Coin which runs on top of Quorum. It was used as an instant settlement for transactions between the clients of the JPMorgan wholesale payments business. At the time, the token had three major use cases amongst which were cutting down on settlement times while replacing the wire transfers for global payments, and securities issuance.
Umar Farooq, head of JPMorgan’s blockchain projects said
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