JPM Coin

JPM Coin is a dollar-backed cryptocurrency (stablecoin) from the major bank JP Morgan Chase, announced in February 2019 as an institution-to-institution service.[1][2][3]

JPM Coin serves as a value token on the Quorum consortium blockchain, using software (called "Quorum") also built by JP Morgan Chase, and is used to facilitate interbank payments on the Interbank Information Network (IIN), a payments network that as of 2020 includes over 300 banks.[4][5][6]

JPM Coin was preceded by Signature Bank's Signet stablecoin, launched by on December 4, 2018.[7]

References
  1. Lucas Mearian (February 14, 2019), "J.P. Morgan to launch a U.S. dollar-backed cryptocurrency", Computerworld
  2. Mary-Ann Russon (February 14, 2019), JP Morgan creates first US bank-backed crypto-currency, BBC
  3. Hugh Son (February 14, 2019), JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business, CNBC, [R]etail investors will probably never get to own a JPM Coin. Unlike bitcoin, only big institutional clients of J.P. Morgan that have undergone regulatory checks, like corporations, banks and broker-dealers can use the tokens.
  4. Anna Irrera (11 February 2020). "JPMorgan in talks to merge blockchain unit Quorum with startup ConsenSys". Reuters. Retrieved 12 February 2020.
  5. David Canellis (February 14, 2019), JP Morgan’s new digital 'coin' is not a cryptocurrency, or even a stablecoin: JPM Coin is the ultimate bankcoin, The Next Web
  6. Antony Peyton. "JP Morgan's Quorum blockchain powers new correspondent banking network " Banking Technology". www.bankingtech.com. Archived from the original on 9 November 2017. Retrieved 22 February 2019.
  7. "Signature Bank Unveils Proprietary Digital Payments Platform, Signet™". www.businesswire.com. 2018-12-04. Retrieved 2019-04-22.


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