JPMorgan set to pilot test JPM Coin in the second half of 2019
|- JPM Coin pilot test to be opened to selected clients “around the end of the year.”
- JPMorgan hopes that the stablecoin will enable “instant” delivery of bonds through the use of blockchain.
The leading investment bank in the United States, JP Morgan Chase in a new reports says that its JPM Coin will be piloted before the end of 2019. The bank, according to the head of digital treasury Umar Farooq will start the pilot test for selected clients “around the end of the year” but this depends on approval by relevant regulators.
Farooq told Bloomberg that there is increasing interest from JP Morgan global customer base. The clients interested in learning about JPM Coin are based in the United States, Europe, and Japan.
JPMorgan hopes that the stablecoin will enable “instant” delivery of bonds through the use of blockchain. The bank also intends to tokenize several stocks while increasing awareness of tokenized and digital securities. While in an interview in Tokyo Japan, Farooq said:
“We believe that a lot of securities over time, in five to 20 years, will increasingly become digital or get tokenized.”
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