{"id":26922,"date":"2023-06-24T09:02:41","date_gmt":"2023-06-24T13:02:41","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/jpmorgan-enables-euro-denominated-blockchain-payments-through-jpm-coin\/"},"modified":"2023-06-24T09:02:43","modified_gmt":"2023-06-24T13:02:43","slug":"jpmorgan-enables-euro-denominated-blockchain-payments-through-jpm-coin","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=26922","title":{"rendered":"JPMorgan Enables Euro-Denominated Blockchain Payments through JPM Coin"},"content":{"rendered":"
\n

JPMorgan<\/strong>\u00a0has expanded its\u00a0JPM Coin<\/strong>\u00a0blockchain payment service to include euro-denominated transactions for corporate clients.\u00a0<\/p>\n

The platform, launched in 2019 for dollar payments, allows wholesale payments clients to transfer dollars or euros between JPMorgan accounts around the world, or make payments to other customers of the bank using blockchain technology instead of traditional payment methods.\u00a0<\/p>\n

Basak Toprak, JPMorgan\u2019s head of Coin Systems for Europe, the Middle East, and Africa,\u00a0reportedly said\u00a0corporate treasurers could use the system to manage liquidity more effectively, such as initiating payments just before they are due to earn more interest income on their deposits.\u00a0<\/p>\n

\u201cThere are cost benefits to paying at the right time,\u201d Toprak said. \u201cThis could mean they could earn more interest income on their deposits.\u201d<\/p>\n

JPM Coin payments operate 24 hours a day, unlike traditional transactions that are typically only processed during business hours and are executed more quickly.<\/p>\n

The service was used for euro payments for the first time by German firm Siemens AG.\u00a0<\/p>\n

While some have questioned whether blockchain is a solution in search of a problem, JPM Coin has been a relative success, with around $300 billion worth of transactions processed since its launch.<\/p>\n

However, this is still a minuscule part of JPMorgan\u2019s overall payments business, which processes almost $10 trillion daily.\u00a0<\/p>\n

It is worth noting that many large banks have been exploring blockchain to make their processes more efficient for almost a decade.<\/p>\n

For instance, rival banks\u00a0Goldman Sachs Group<\/strong>,\u00a0Banco Santander<\/strong>, and\u00a0Societe Generale<\/strong>\u00a0are pushing ahead with their own blockchain and digital asset projects.\u00a0<\/p>\n

Goldman Sachs\u00a0launched a digital asset platform\u00a0in November last year allowing clients to issue financial securities as digital assets in areas such as real estate.<\/p>\n

The three banking giants also helped the\u00a0European Investment Bank<\/strong>\u00a0issue a digital bond last year using blockchain technology.<\/p>\n

JPMorgan Remains Bullish on Blockchain Technology and Tokenization<\/h2>\n

JPMorgan has been bullish on blockchain for some time now, claiming that the technology could be used to ease cross-border payments.<\/p>\n

In late April, the bank said it is moving forward with its\u00a0push to tokenize traditional financial assets\u00a0despite last year\u2019s market downturn.<\/p>\n

At the time, Tyrone Lobban, the head of JPMorgan\u2019s digital asset and tokenization platform Onyx, said the bank has already processed close to $700 billion in short-term loans on Onyx, with more to come in the near future.<\/p>\n

\u201cWe think that tokenization is a killer app for traditional finance,\u201d Lobban said, adding:<\/p>\n

\n

\u201cIf you think about private markets \u2013 private credit, private equity and private real estate \u2013 they are pretty much double the size of public markets, but many orders of magnitude less liquid, so there\u2019s this huge disparity.\u201d<\/p>\n<\/blockquote>\n

In October last year, JPMorgan also revealed that it was exploring the idea of a digital wallet, or a\u00a0Web3 digital ID offering, which could see users \u201cfreely traverse across digital realms in a trusted way, all using one digital identity in multiple places.\u201d<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

JPMorgan\u00a0has expanded its\u00a0JPM Coin\u00a0blockchain payment service to include euro-denominated transactions for corporate clients.\u00a0 The platform, launched in 2019 for dollar payments, allows wholesale payments clients to transfer dollars or euros between JPMorgan accounts around the world, or make payments to other customers of the bank using blockchain technology instead of traditional payment methods.\u00a0 Basak Toprak, […]<\/p>\n","protected":false},"author":1,"featured_media":26923,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-26922","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nJPMorgan Enables Euro-Denominated Blockchain Payments through JPM Coin | iFintechWorld<\/title>\n<meta name=\"description\" content=\"JPMorgan\u00a0has expanded its\u00a0JPM Coin\u00a0blockchain payment service to include euro-denominated transactions for corporate clients.\u00a0The platform, launched in\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=26922\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JPMorgan Enables Euro-Denominated Blockchain Payments through JPM Coin | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"JPMorgan\u00a0has expanded its\u00a0JPM Coin\u00a0blockchain payment service to include euro-denominated transactions for corporate clients.\u00a0The platform, launched in\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=26922\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-24T13:02:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-24T13:02:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/1687611762_adobestock-monticellllo-1___media_library_original_1200_684.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"684\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=26922#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=26922\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"JPMorgan Enables Euro-Denominated Blockchain Payments through JPM Coin\",\"datePublished\":\"2023-06-24T13:02:41+00:00\",\"dateModified\":\"2023-06-24T13:02:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=26922\"},\"wordCount\":501,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Crypto\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=26922#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=26922\",\"url\":\"https:\/\/ifintechworld.com\/?p=26922\",\"name\":\"JPMorgan Enables Euro-Denominated Blockchain Payments through JPM Coin | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-06-24T13:02:41+00:00\",\"dateModified\":\"2023-06-24T13:02:43+00:00\",\"description\":\"JPMorgan\u00a0has expanded its\u00a0JPM Coin\u00a0blockchain payment service to include euro-denominated transactions for corporate clients.\u00a0The platform, launched in\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=26922#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=26922\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=26922#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"JPMorgan Enables Euro-Denominated Blockchain Payments through JPM Coin\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"JPMorgan Enables Euro-Denominated Blockchain Payments through JPM Coin | iFintechWorld","description":"JPMorgan\u00a0has expanded its\u00a0JPM Coin\u00a0blockchain payment service to include euro-denominated transactions for corporate clients.\u00a0The platform, launched in","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=26922","og_locale":"en_US","og_type":"article","og_title":"JPMorgan Enables Euro-Denominated Blockchain Payments through JPM Coin | iFintechWorld","og_description":"JPMorgan\u00a0has expanded its\u00a0JPM Coin\u00a0blockchain payment service to include euro-denominated transactions for corporate clients.\u00a0The platform, launched in","og_url":"https:\/\/ifintechworld.com\/?p=26922","og_site_name":"iFintechWorld","article_published_time":"2023-06-24T13:02:41+00:00","article_modified_time":"2023-06-24T13:02:43+00:00","og_image":[{"width":1200,"height":684,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/1687611762_adobestock-monticellllo-1___media_library_original_1200_684.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=26922#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=26922"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"JPMorgan Enables Euro-Denominated Blockchain Payments through JPM Coin","datePublished":"2023-06-24T13:02:41+00:00","dateModified":"2023-06-24T13:02:43+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=26922"},"wordCount":501,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Crypto"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=26922#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=26922","url":"https:\/\/ifintechworld.com\/?p=26922","name":"JPMorgan Enables Euro-Denominated Blockchain Payments through JPM Coin | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-06-24T13:02:41+00:00","dateModified":"2023-06-24T13:02:43+00:00","description":"JPMorgan\u00a0has expanded its\u00a0JPM Coin\u00a0blockchain payment service to include euro-denominated transactions for corporate clients.\u00a0The platform, launched in","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=26922#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=26922"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=26922#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"JPMorgan Enables Euro-Denominated Blockchain Payments through JPM Coin"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/26922","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26922"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/26922\/revisions"}],"predecessor-version":[{"id":26924,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/26922\/revisions\/26924"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/26923"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}