J.P. Morgan Chase will be the first major U.S. bank to create its own cryptocurrency. In trials set to start in a few months, a tiny fraction of the $6 trillion the bank lends to corporations will happen over something called 'JPM Coin.' The digital token created by engineers at the New York-based bank to instantly settle payments between clients. CNBC banking reporter Hugh Son breaks it down.
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Francisco Gimeno - BC Analyst A stable coin for a financial institution. Let's remember that Bitcoin started precisely because the financial institutions already were not working on the face of an incoming 4th IR. Banks and financial corporations are awakening to this. Some will change and improve, some others not. Creating this token (I wouldn't call it a coin) which mainly benefits investors and clients inside of the corporation can be beneficial for them, but in reality just signs how the financial world (which like JPM was dismissing or against crypto) wish to continue controlling the global financial threads, without realising that blockchain and crypto is bringing disruption and empowerment, no another collar for the same dog.