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<div class="cryptonews">
 <p class="is-style-lead">The bank also plans to expand support for fiat currencies to deal with JPM Coin other than the U.S. dollar and euro.</p>
 <p>JPMorgan’s blockchain-powered stablecoin JPM Coin, pegged to the U.S. dollar, has reached the $1 billion mark in processed <a rel="noopener noreferrer nofollow" title="daily" href="https://thebittimes.com/tag/daily.html">daily</a> <a rel="noopener noreferrer nofollow" title="transactions" href="https://thebittimes.com/tag/transactions.html">transactions</a> as the bank keeps betting on blockchain.</p>
 <p>In an interview with Bloomberg on Oct. 26, JPMorgan Chase global head of payments, Takis Georgakopoulos, said the bank is now weighing its options to launch a retail version of the currency to bring “that same efficiency to consumers.”</p>
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 <p>Although JPMorgan recently launched euro-supported payments with JPM Coin, the <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> has been used “mostly” with U.S. dollars. The New York City-based financial giant is now considering expanding support for other fiat currencies, Georgakopoulos said, without going into details.</p>
 <blockquote class="wp-block-quote">
  <p>“JPM Coin gets transacted on a daily basis mostly in US dollars, but we again intend to continue to expand that.”</p> <cite>JPMorgan Chase global head of payments Takis Georgakopoulos</cite>
 </blockquote>
 <p>The Wall Street Bank first announced&nbsp;plans to float a dollar-backed stablecoin for interbank transfers in 2019. The digital token appears to be running on Quorum, a blockchain network developed by JPMorgan as a private fork of the Ethereum (ETH) network and later acquired by ConsenSys.</p>
 <p>As crypto.news reported, JPMorgan plans to use its Onyx division to spearhead the bank’s entry into the central bank <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> currency (CBDC) arena. According to Georgakopoulos, the Onyx team will create separate payment rails for countries interested in rolling out their <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> currencies.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/jpmorgan-s-digital-token-said-to-handle-1b-in-daily-transactions-tbt67885.html">https://thebittimes.com/jpmorgan-s-digital-token-said-to-handle-1b-in-daily-transactions-tbt67885.html</a></p>

JPMorgan’s digital token said to handle $1b in daily transactions

TheBitTimes

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