JPMorgan recently introduced euro-denominated payments for its corporate clients with its JPM Coin blockchain payment system.
The system went live with its euro transactions last week, and the first payment in euros on its platform was carried out by the German company Siemens. JPM Coin was originally launched in 2019 for dollar payments with the aim of offering clients a payment rail that uses blockchain. It allows large multinational clients to transfer money between accounts with the bank around the world and make payments to one another via blockchain technology rather than traditional payment methods.
So far, it has processed around $300 billion worth of transactions using JPM Coin. However, this is just a fraction of the firm’s daily transaction volume of almost $10 trillion via conventional banking methods.The system allows customers to make payments […]
Excerpt Sourced From: basedunderground.com
