JP MORGAN CREATS DIGITAL COIN FOR PAYMENTS

Published – February 14, 2019

J.P. Morgan this month became the first U.S. bank to create and successfully test a digital coin representing a fiat currency.

The JPM Coin is based on blockchain-based technology enabling the instantaneous transfer of payments between institutional accounts.

We sat down with Umar Farooq, head of Digital Treasury Services and Blockchain, to find out more about the announcement and what it means for the future of payments.

So what exactly is the JPM Coin and what is it used for?

Are JPM Coins a currency or legal tender?

Will it be used for other currencies besides the U.S. Dollar?

How does it work?

How did you test the JPM Coin?

What is J.P. Morgan’s official stance on cryptocurrencies?

How does JPM Coin differ from other cryptocurrencies?*

Why is it beneficial to have J.P. Morgan’s involvement?

Are regulators supportive of the JPM Coin?

Does the JPM Coin run on Quorum, J.P. Morgan’s blockchain technology?

What impact will JPM Coin have on J.P. Morgan’s other businesses like Custody or Clearing & Settlement?

Does the development of JPM Coin have any impact on the Interbank Information Network (IIN), J.P. Morgan’s new blockchain network?

Can I use JPM Coins as an individual consumer?