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JPM Coin and the Future of Commercial (and Maybe Consumer) Transactions

JPM Coin and the Future of Commercial (and Maybe Consumer) Transactions

Mar 26, 2019

By: Jeremy M. Miller

In early 2019, J.P. Morgan became the first major United States bank to successfully test a digital coin (the “JPM Coin”) designed to modernize the future of instantaneous payments in commercial transactions. The JPM Coin is neither an official currency nor backed by the full faith and credit of the U.S. government, unlike the dollar. The JPM Coin can be analogized to a “token” and is based on the concept that one JPM Coin held in a JPMorgan Chase N.A. account is considered the equivalent of one dollar. The value of a JPM Coin does not fluctuate like a stock trading in the market. (more…)

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