JPM Coin is a dollar-backed cryptocurrency (stablecoin) from the bank JP Morgan Chase, announced in February 2019 as an institution-to-institution service.
JPM Coin is intended to serve as a value token on the Quorum consortium blockchain, using software (called "Quorum") also built by JPMorgan Chase, and is used to facilitate interbank payments on the Interbank Information Network (IIN).
As of October 2023, JPM Coin is used for approximately $1 billion of transactions each day.
- Launch of JPM Coin Exchange
- JPM Coin (JP Morgan Cryptocurrency Exchange)
- Overview
JPM Coin is a cryptocurrency exchange launched by the renowned American financial institution, JP Morgan Chase. The exchange aims to provide users with a secure, fast, and efficient digital asset trading experience. As a significant step in JP Morgan's entry into the blockchain and digital currency sectors, JPM Coin offers reliable cryptocurrency trading services to global customers while leveraging its financial technology advantages to provide innovative financial products and services.
- History
JPM Coin Exchange officially launched in 2024, inheriting JP Morgan's excellent reputation and technical strength in the traditional financial sector. Initially developed as an internal transfer tool for institutional clients, it evolved into a comprehensive cryptocurrency trading platform accessible to the general public.
- Features and Services
1.Stability and Security As an exchange under JP Morgan, JPM Coin emphasizes the security of users' assets. The exchange employs multiple layers of security measures, including two-factor authentication, multi-signature wallets, and advanced cybersecurity systems, ensuring the safety of users' assets.
2.Wide Range of Trading Pairs JPM Coin offers a variety of mainstream cryptocurrency trading pairs, including Bitcoin (BTC), Ethereum (ETH), and JP Morgan's proprietary stablecoin, JPM Coin, providing users with diverse investment options.
3.Financial Service Innovation The exchange integrates JP Morgan's financial service advantages, introducing several innovative financial products, such as staking, liquidity mining, and digital asset loans, helping users achieve asset growth.
4.Efficient Trading Experience JPM Coin uses an advanced matching engine, supporting high-frequency trading to ensure users can execute trades swiftly in the ever-changing market. Additionally, the platform provides 24/7 customer support to address any issues users may encounter during trading.
5.Compliance and Regulation JPM Coin strictly adheres to financial regulations worldwide and collaborates with various regulatory bodies to ensure the legality and transparency of its operations, committing to provide users with a compliant and secure trading environment.
- Future Prospects
JPM Coin is committed to promoting the adoption and application of blockchain technology. Through collaboration with global financial institutions, it aims to expand its service scope and foster the growth of the global digital asset market. The exchange plans to launch more innovative financial products in the coming years and further enhance the user experience.
External Links
JPM Coin Exchange Mobile Website（https://m.jpm-coin.io/#/）
References
- Lucas Mearian (February 14, 2019), "J.P. Morgan to launch a U.S. dollar-backed cryptocurrency", Computerworld, archived from the original on February 23, 2019, retrieved February 22, 2019
- Mary-Ann Russon (February 14, 2019), JP Morgan creates first US bank-backed crypto-currency, BBC
- Hugh Son (February 14, 2019), JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business, CNBC,
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.
- Anna Irrera (11 February 2020). "JPMorgan in talks to merge blockchain unit Quorum with startup ConsenSys". Reuters. Retrieved 12 February 2020.
- David Canellis (February 14, 2019), JP Morgan's new digital 'coin' is not a cryptocurrency, or even a stablecoin: JPM Coin is the ultimate bankcoin, The Next Web
- Ghosh, Suvashree (26 October 2023). "JPMorgan Says JPM Coin Now Handles $1 Billion Transactions Daily". Bloomberg. Retrieved 7 December 2023.
External links
- Quorum homepage, JP Morgan
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