{"id":2063,"date":"2023-06-24T07:07:50","date_gmt":"2023-06-24T01:37:50","guid":{"rendered":"https:\/\/news.cetoex.com\/?p=2063"},"modified":"2023-06-24T07:07:51","modified_gmt":"2023-06-24T01:37:51","slug":"jpmorgan-launches-euro-blockchain-payments-via-jpm-coin","status":"publish","type":"post","link":"https:\/\/news.cetoex.com\/jpmorgan-launches-euro-blockchain-payments-via-jpm-coin\/","title":{"rendered":"JPMorgan Launches Euro Blockchain Payments via JPM Coin"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/watcher.guru\/news\/wp-content\/uploads\/2023\/06\/j-1-800x450.jpg.webp\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Cetoex News &#8211; <\/strong>  Investment banking giant JPMorgan has launched Euro-denominated blockchain payments for its corporate clients. Institutions can redeem this using the firm\u2019s JPM Coin.\u00a0<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Basak Toprak, the company\u2019s Head of Coin Systems for Europe, the Middle East, and Africa, confirmed to\u00a0Bloomberg\u00a0that the JPM Coin went live with Euro transactions a couple of days back. Germany\u2019s\u00a0Siemens AG\u00a0conducted the first Euro payment on the platform. The coin was launched back in 2019 by the bank to help facilitate instant payments.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Pointing out the use cases, Toprak highlighted that Corporate Treasurers can use the system to effectively manage liquidity. For instance, payments can be initiated just before they are due. Elaborating on the same, Toprak said,&nbsp;<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>\u201cThere are cost benefits to paying at the right time. This could mean they could earn more interest income on their deposits.\u201d<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-300-billion-worth-of-transactions-already-processed-by-jpm-coin\">$300 Billion Worth of Transactions Already Processed by JPM Coin<\/h3>\n\n\n\n<p class=\"has-medium-font-size\">Well, several banks and other financial firms from across the world have been experimenting with blockchain and its underlying assets lately. As\u00a0reported\u00a0earlier today, Japan\u2019s largest Bank, Mitsubishi UFJ Financial Group [MUFG], is in talks with companies associated with prominent global stablecoins. Alongside, it is also discussing with firms about issuing such tokens via its own blockchain platform, Progmat.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Prior to that, Societe Generale, more commonly referred to as SocGen,\u00a0introduced\u00a0a stablecoin pegged to the Euro in April. The France-based multi-national financial services company\u2019s asset, \u2018EUR CoinVertible\u2019 was deployed on the Ethereum public blockchain.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">As far as the JPM Coin is concerned, the bank has already fostered $300 billion worth of transactions since its launch. Even though the amount might seem large at first, it should be noted that JPMorgan processes nearly $10 trillion worth of payments on a daily basis. Specifically, the bank\u2019s system allows large corporations to transfer fiat from and to various JPMorgan accounts around the world.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>NEWS BY &#8211; CETOEX NEWS<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cetoex News &#8211; Investment banking giant JPMorgan has launched Euro-denominated blockchain payments for its corporate clients. Institutions can redeem this using the firm\u2019s JPM Coin.\u00a0 Basak Toprak, the company\u2019s Head&hellip; <\/p>\n","protected":false},"author":1,"featured_media":2064,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[24],"tags":[929,928,41,44,106,26,926,927],"class_list":["post-2063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alt-coin","tag-blockchain-payments","tag-blockchain-payments-via-jpm-coin","tag-cetoex","tag-cetoex-news","tag-crypto","tag-cryptocurrency","tag-jpm","tag-jpmorgan"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/news.cetoex.com\/wp-content\/uploads\/2023\/06\/j-1-800x450.jpg.webp","_links":{"self":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts\/2063"}],"collection":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/comments?post=2063"}],"version-history":[{"count":1,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts\/2063\/revisions"}],"predecessor-version":[{"id":2065,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts\/2063\/revisions\/2065"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/media\/2064"}],"wp:attachment":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/media?parent=2063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/categories?post=2063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/tags?post=2063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}