View source for JPM Coin

'''JPM Coin''' is a dollar-backed cryptocurrency ([[stablecoin]]) from the bank [[JP Morgan Chase]], announced in February 2019 as an institution-to-institution service.<ref>{{citation|work=Computerworld|title=J.P. Morgan to launch a U.S. dollar-backed cryptocurrency|date=February 14, 2019|author=Lucas Mearian|url=https://www.computerworld.com/article/3340373/blockchain/jp-morgan-to-launch-a-us-dollar-backed-cryptocurrency.html|access-date=February 22, 2019|archive-date=February 23, 2019|archive-url=https://web.archive.org/web/20190223020410/https://www.computerworld.com/article/3340373/blockchain/jp-morgan-to-launch-a-us-dollar-backed-cryptocurrency.html|url-status=dead}}</ref><ref>{{citation|title=JP Morgan creates first US bank-backed crypto-currency|author=Mary-Ann Russon|publisher=BBC|date=February 14, 2019 |url=https://www.bbc.com/news/business-47240760}}</ref><ref>{{citation|title=JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business|date=February 14, 2019 |author=Hugh Son|publisher=CNBC|url=https://www.cnbc.com/2019/02/13/jp-morgan-is-rolling-out-the-first-us-bank-backed-cryptocurrency-to-transform-payments--.html|quote=[R]etail investors will probably never get to own a JPM Coin. Unlike bitcoin, only big institutional clients of J.P. Morgan that have undergone regulatory checks, like corporations, banks and broker-dealers can use the tokens.}}</ref>
JPM Coin is intended to serve as a value token on the Quorum [[Blockchain (database)#Openness|consortium blockchain]], using software (called "Quorum") also built by JPMorgan Chase, and is used to facilitate [[:Category:Interbank networks|interbank payment]]s on the [[JPMorgan Chase|Interbank Information Network]] (IIN).<ref name=reuters20220211>{{cite news |url=https://www.reuters.com/article/us-jp-morgan-blockchain-exclusive-idUSKBN2051AW |work=[[Reuters]] |title=JPMorgan in talks to merge blockchain unit Quorum with startup ConsenSys |author=Anna Irrera |date=11 February 2020 |access-date=12 February 2020 }}</ref><ref>{{citation|title=JP Morgan's new digital 'coin' is not a cryptocurrency, or even a stablecoin: JPM Coin is the ultimate bankcoin|publisher=[[The Next Web]]|date=February 14, 2019|author=David Canellis|url=https://thenextweb.com/hardfork/2019/02/14/jp-morgan-cryptocurrency-jpmcoin/}}</ref>
As of October 2023, JPM Coin is used for approximately $1 billion of transactions each day.<ref>{{cite news |last1=Ghosh |first1=Suvashree |title=JPMorgan Says JPM Coin Now Handles $1 Billion Transactions Daily |url=https://www.bloomberg.com/news/articles/2023-10-26/jpmorgan-says-jpm-coin-now-handles-1-billion-transactions-daily?sref=CIpmV6x8 |access-date=7 December 2023 |work=Bloomberg |date=26 October 2023}}</ref>
== References ==
{{Reflist | 30em}}
==External links==
*[https://www.jpmorgan.com/country/US/en/Quorum Quorum homepage], JP Morgan
{{Cryptocurrencies}}
[[Category:Cryptocurrencies]]
[[Category:JPMorgan Chase]]
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