Altcoins Talks - Cryptocurrency Forum

Further Discussions => Banks & Cryptos => Topic started by: Tanimariya on June 07, 2021, 02:00:19 PM

Title: Remember JPM Coin? Next Step Is Programmable Money, Bank Exec Says
Post by: Tanimariya on June 07, 2021, 02:00:19 PM

The global bank is also “keeping a very close eye” on DeFi, says Umar Farooq, head of JPMorgan’s Onyx blockchain team. Two years after JPMorgan grabbed headlines with plans for an in-house digital token, the global megabank is looking to fulfill one of the great promises of electronic currency: programmable money.

Formally launched in October, JPM Coin is, for now, more akin to JPMorgan’s corporate clients holding their U.S. dollar deposit accounts on a blockchain, said Umar Farooq, head of the bank’s Onyx suite of applications.  Source (https://www.coindesk.com/jpm-coin-programmable-money-defi)