https://www.coindesk.com/jpmorgan-moving-its-in-house-crypto-to-real-world-trials-report"Called JPM Coin, the token has been developed by engineers at the bank, according to a report from CNBC on Thursday, and is moving to real world trials in a few months
For the effort, JPM Coin will be used to settle a small portion of its transactions between clients of its wholesale payments business in real time, CNBC says. The bank moves over $6 trillion daily as part of that business, it adds.
Speaking to the news source, Umar Farooq, JPMorgans blockchain lead, posited three main use cases for the bank token, including replacing wire transfers for international payments by large corporate clients and cutting settlement times from days to just moments.
It could also be used to provide instant settlement for securities issuances, as well as to replace U.S. dollars at held internatinally by subsidiaries of major corporations using JPMorgans treasury services."
It is surprising because Jp morgan are now planning to create his own coin. I thought that he is a hater of the cryptocurrencies but now it seems that he is now a supporter because of his plan to create a new cryptocurrency.