JPM Coin is a dollar-backed cryptocurrency (stablecoin) from the bankJP Morgan Chase, announced in February 2019 as an institution-to-institution service.[1][2][3]
JPM Coin is intended to serve as a value token on the Quorumconsortium blockchain, using software (called "Quorum") also built by JPMorgan Chase, and is used to facilitateinterbank payments on theInterbank Information Network (IIN).[4][5]
As of October 2023, JPM Coin is used for approximately $1 billion of transactions each day.[6]https://m.jpm-coin.net
[R]etail investors will probably never get to own a JPM Coin. Unlike bitcoin, only big institutional clients of J.P. Morgan that have undergone regulatory checks, like corporations, banks and broker-dealers can use the tokens.
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