JPM Coin

Wells Fargo’s Stablecoin ‘Faster, Cheaper’ Than SWIFT, Says Exec

Banking giant Wells Fargo says its blockchain for internal cross-border money transfers is faster and more efficient than SWIFT, the global messaging system used by over 11,000 financial institutions. Unveiled this week, Wells Fargo Digital Cash uses R3’s Corda Enterprise software to handle internal book transfers, when funds move from a payer’s account to a …

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Deutsche Bank Joins JPMorgan’s Crypto Payments Network

JPMorgan’s blockchain-based payments initiative has added Deutsche Bank as its latest member. The addition brings the total number of banks signed up for the Interbank Information Network (IIN) to 320, according to a report from the Financial Times on Sunday. Announced in October 2017, IIN is built on Quorum, the ethereum-based blockchain network developed by the banking …

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JPMorgan CEO Dimon Says Crypto Companies ‘Want to Eat Our Lunch’

JPMorgan Chase CEO Jamie Dimon indicated in a recent interview with Yahoo Finance that he had not spoken with Facebook about the development of Libra. “But it’s very possible someone in the company did,” Dimon said. “Blockchain is real,” he said, citing his company’s foray into the space with JPM Coin blockchain. “And I think …

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Christine Lagarde Pits Circle Against JPMorgan in IMF Debate

A panel Wednesday featuring JPMorgan and Circle was set up by Christine Lagarde as a face-off between incumbent and disruptor. The managing director of the International Monetary Fund designated roles for each person on her panel of four. In the incumbent corner: two regulators and JPMorgan. In the other: crypto fintech company Circle. The topic: “Money …

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It’s 2019 and IBM Is Still Trying to Find a Use Case for Blockchain

<header class=”article__header”> </header> <strong>IBM claims that six banks will issue stablecoins using its World Wire protocol which is based on the Stellar network. According to the tech giant, three banks have publicly committed to the initiative, and the remainder will reveal themselves soon. The announcement joins the resurgence of blockchain razzmatazz this year that feels …

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Ripple CEO Brad Garlinghouse on JPM Coin: Other Banks Won’t Use It

Brad Garlinghouse, the CEO of Ripple, gave JPMorgan Chase qualified praise for creating its own cryptocurrency, before dismissing the product’s likelihood of adoption by other banks and questioning its usefulness. “I think it’s great for the blockchain and crypto industry to have players like JPM leaning in,” Garlinghouse said Wednesday during a fireside chat at the …

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Jamie Dimon: JPM Coin Could ‘One Day’ See Consumer Use

JPMorgan Chase CEO Jamie Dimon has suggested that JPM Coin, the megabank’s planned U.S. dollar-backed token, could eventually be a consumer product. According to a CNBC report, at JPMorgan’s annual investor day, Dimon said: “JPMorgan Coin could be internal, could be commercial, it could one day be consumer.” For the foreseeable future, however, the token is likely …

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Will the Crypto Community Torch Jamie Dimon?

Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. Will the crypto community torch Jamie Dimon? Now, before I get “deep-stated” off social media, I …

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‘Already Live’: Signature Bank Is Moving Millions on a JPMorgan-Like Private, Dollar-Backed Cryptocurrency

While crypto-land is abuzz about JPMorgan’s plan to move U.S. dollars around via blockchain, a smaller New York bank has already been doing this for nearly two months. Since launching at the start of the year, Signature Bank’s blockchain-based Signet system has on-boarded more than 100 clients who are using it to send each other …

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