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JP Morgan CEO: JPM Coin Could Become Retail Crypto

Jamie Dimon, the CEO of a financial conglomerate JP Morgan, stated that JPM Coin — the bank's cryptocurrency — could be used in the future by retail customers, as reported by CNBC.


 

In mid-February, JP Morgan announced the testing of its own cryptocurrency JPM Coin, which will be backed with US dollar. At that time the bank said the coin will be used only for internal bank transfers of large clients. Namely, according to the plan, JPM Coin should be used in international payments and securities transactions.

Now JP Morgan CEO Jamie Dimon claims the new cryptocurrency may find other applications in the future, including serving ordinary customers.

JP Morgan Coin could be internal, could be commercial, it could one day be consumer,” said Jamie Dimon at the annual investors day, CNBC reports.

However, the JP Morgan website says the bank does not have plans to use cryptocurrency in the retail segment.

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