Stablecoin JPM Coin first used for commercial payments

JPM Coin digital currency was first used For commercial purposes, a large client JP Morgan to send payments. The bank also announced the creation of the ONYX project to study blockchain.

As reported
CNBC, Digital currency JP Morgan, JPM Coin, was first used in commercial operations. According to Takis Georgakopulos (Takis Georgakopoulos), Head of the Department of wholesale payments of the bank, JPM Coin was used by a large technological client of the bank to send payments around the world. The name of the client is not disclosed.

Besides, The bank announced the creation of ONYX - a subsidiary for JP Morgan initiatives in the field of blockchain and digital currencies, in which more 100 employees. Bank General Director Jamie Diamon (Jamie Dimon) said, that these studies will bring the company "to the advanced serious changes in the financial services industry".

“We launch ONYX, Because we think, that we enter during the commercialization of these technologies, moving from research and development to that, What can become a real business ", – said Georgakopulos.

For the first time about testing JP Morgan's own cryptocurrency, it became known
In the beginning 2019 of the year. Then the bank declared, that a small part of the settlements between the clients of the bank’s payment unit in the future will be carried out using JPM Coin. Last summer, information appeared, that JPMorgan Chase starts
JPM Coin testing together with corporate clients.