BREAKING: JPMorgan is Developing a Blockchain-Based Deposit Token for International Payments
According to Bloomberg, a person with knowledge of the matter said that JPMorgan Chase & Co., the largest bank in the USA, is considering launching a new type of digital money that could speed up international payments and agreements.
The person, who asked to remain anonymous because the project is still in its early stages, said the bank is exploring using a blockchain-based deposit token that would be a transferable digital currency representing a deposit claim against itself.
The source added that the bank has developed much of the infrastructure needed to run the new payment system, but will not create the token unless it receives approval from US regulators.
*This is not investment advice.