JPMorgan strikes into deposit tokens for settlements: Report

Monetary large JPMorgan is making one other transfer into the crypto house with a brand new blockchain-based resolution for cross-border transactions, reveals a report by Bloomberg. The system, nonetheless, will not be out there till the financial institution receives the inexperienced mild from regulators in the USA.

JPMorgan has reportedly developed many of the infrastructure to run the brand new deposit token, which can be first launched for company purchasers to hurry up funds and settlements. Deposit tokens are issued on a blockchain by a depository establishment to characterize a deposit place. The answer contrasts with stablecoins, that are often issued by a non-bank personal entity.

Proceed Studying on Coin Telegraph