JPMorgan Will Launch ‘JPM Coin’ By End of 2019
As per the Bloomberg report on 25th of June, One of the largest banks in the United States JPMorgan is expecting to pilot its stablecoin JPM coin by this year’s end.
The head of digital treasury services at JPMorgan Umar Farooq revealed that the company intended to launch a pilot testing of the stablecoin with the selected platform until the regulator allow to proceed further.
According to Farooq, the bank had observed the growing interest from its global consumers and this had a potential benefit for the bank’s own stablecoin project dubbed JPM coin revealed in mid-February this year.
To be specific the clients form the U.S, Europe and Japan have expressed there kin interest in knowing about the JPM Coin’s capabilities of speeding up securities along with bond transactions along with the network.
Regarding this Farooq also stated that this stablecoin has the potential to enable instant bond transfer via Blockchain services.
The bank executive also revealed that the bank may soon tokenize along with its digital securities and in the upcoming 5 to 20 years the stocks will also be made digital for its consumers.
Farooq believes that a lot more securities will get tokenized or digital in the upcoming 2p years and he appreciates the time.
JPM’s global market strategy managing director revealed that the Bitcoin (BTC) industry underwent a massive change ever since the institutional investors started investing since the year 2017.
