CNBC October 27, 2020
Key Points
– JPMorgan Chase said its digital currency, JPM Coin, is being used commercially for the first time this week by a large technology client to send payments around the world.
– That development, along with other behind-the-scene moves, persuaded JPMorgan to create a new business to house its blockchain and digital currency efforts called Onyx, said Takis Georgakopoulos, the bank’s global head of wholesale payments.
– The unit has more than 100 dedicated staffers, he said.
After years of hype with little to show for it, blockchain technology is on the cusp of a breakthrough: making money in actual business applications.
At JPMorgan Chase, the firm’s digital currency JPM Coin is being used commercially for the first time...
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