According to CNBC, JPM Coin will be used in trials that are set to start in a few months. The bank moves more than $6 trillion around the world every day for corporations in its wholesale payments business. The trials will naturally start off small, but such a large bank doing this has huge implications.
JP Morgan’s interest in blockchain – as preparation for this digital currency – is well known.
In May 2018, it filed an application to the US Patent and Trademark Office to patent an interbank payments system based on the distributed ledger technology (DLT).