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JPMorgan Negotiates to Take Over Apple Card Program from Goldman Sachs

JPMorgan Negotiates to Take Over Apple Card Program from Goldman Sachs

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by Giorgi Kostiuk

17 hours ago

JPMorgan Chase is exploring the prospect of replacing Goldman Sachs in overseeing Apple's card program, indicating shifts in the company's financial alliances.

Change of Partner in Apple's Card Program

JPMorgan Chase is negotiating with Apple Inc. to take over the Apple Card program. This move comes as Goldman Sachs has decided to withdraw from the partnership.

Goldman Sachs Exits

Goldman Sachs chose to exit the partnership after facing financial losses and regulatory scrutiny. The bank was initially set to manage the program until 2029.

Impact on the Crypto Market

Despite potential changes in the financial landscape, there has been no immediate impact on the cryptocurrency market. Neither JPMorgan nor Apple has announced any crypto-related initiatives. Apple CEO Tim Cook stated, "While we all need them, there are things about the credit card experience that could be so much better."

The potential acquisition by JPMorgan could reshape the consumer finance market, but its specific consequences for the crypto industry remain unclear.

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