JPMorgan (NYSE: JPM), one of the world’s largest banks in the world, is doubling down on its blockchain efforts.
On Friday, June 23, the Wall Street giant rolled out euro-denominated payments for corporate clients using its native, blockchain-powered digital currency, JPM Coin, according to a Bloomberg report.
Per the report, euro payments went live on Wednesday, with the Germany-based industrial manufacturing giant Siemens making the first payment using the European fiat currency.
The move comes several months after JPMorgan first hinted at enabling blockchain euro-denominated payments via JPM Coin. The platform already allows US dollar-denominated transactions.
JPM Coin Benefits
Over the past decade or so, numerous banks and financial institutions shave been making efforts to leverage blockchain technology for increased operational efficiency, however, commercial applications of such initiatives have been largely limited, and widespread benefits have remained elusive.
On the
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