JPMorgan Chase plans to continue expanding the use of JPM Coin

Takis Georgakopoulos, Global Head of Payments at JPMorgan, plans to further expand the use of JPM Coin. The token processes transactions worth around $1 billion per day. Georgakopoulos stated that the next step is to consider creating a more retail version to bring the same efficiency to consumers. JPM Coin is a service offered by JPMorgan that allows wholesale clients to make payments in US dollars and Euros through a private blockchain network. This is one of the few real-time blockchain applications implemented by large banks. In addition, the company is also running a blockchain-based repo application and researching digital deposit tokens to accelerate cross-border settlements.