JPM Coin
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JPM Coin is a dollar-backed cryptocurrency (stablecoin) from the bank JP Morgan Chase, announced in February 2019 as an institution-to-institution service.[1][2][3]
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).[4][5]
As of October 2023, JPM Coin is used for approximately $1 billion of transactions each day.[6]
References
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