JP Morgan Announces JPM Coin, First US Bank-Backed Cryptocurrency | Cryptocurrency News

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Engineers at the lender have created the “JPM Coin,” a digital token that will be used to instantly settle transactions between clients of its wholesale payments business.

Only a tiny fraction of payments will initially be transmitted using the cryptocurrency, but the trial represents the first real-world use of a digital coin by a major U.S. bank.

While J.P. Morgan’s Jamie Dimon has bashed…

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