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Jamie Dimon: “Over time, JPM Coin will be available for a wide number of consumers.”

Jamie-Dimon-JPM-Coin-will-be-available-for-consumers Jamie Dimon | Head of JPMorgan

The head of JPMorgan, Jamie Dimon, said that JPM Coin, which was recently announced by the bank, will become available to the general consumer.

"JP Morgan Coin could be internal, could be commercial, it could one day be consumer," Dimon quotes the CNBC.

 According to the original plan, in the near future it is planned to use JPM Coin exclusively for optimizing transactions between banks and large businesses.

The head of the JPMorgan blockchain-direction Umar Farouk on the day of the announcement of JPM Coin also noted that the use of the token is planned only in the internal system of the bank and identified 3 main areas of application:

  • international payments with the possibility of instant payments;
  • securities transactions;
  • replacement of dollars held by corporate units that use JPMorgan storage services.

At the same time, the JPMorgan website, in the question and answer section on JPM Coin, talks about the possible commercial use of cryptocurrency, which would be suitable for use not only in the Quorum blockchain, but also in all standard blockchains.

However, not everyone welcomed JPM Coin with optimism. Ripple CEO Brad Garlinghouse said that JPMorgan investment bank does not understand the essence of cryptocurrency. Of course, he was not happy about the appearance of such a dangerous rival for Ripple.


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