JPMorgan's blockchain enables automatic cash swaps

by Liza Tanasova

3 years ago

US banking giant JPMorgan has implemented automatic blockchain settlements using its JPM Coin system, designed for the transfer of tokenized assets. This innovative feature empowers clients to automate overdue payments and margin calls through distributed ledger technology.

Developed by JPMorgan's blockchain division, Onyx, the system boasts advantages over conventional bank accounts, offering configurability and scalable programmable payments. Launched in 2019 to expedite US dollar payments, JPM Coin has now evolved to streamline tokenized euro-based payments, showcasing the bank's commitment to embracing blockchain for efficient settlement processes.

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