JPMorgan’s JPM Coin Expands for Euro Transactions
JPMorgan is expanding the scope of its blockchain programme, JPM Coin, to help its corporate clients conduct euro transactions.
According to a Bloomberg story on June 23, the American investment banking titan expanded its JPM Coin blockchain technology, which was initially confined to USD transactions, to also accept euro payments on June 21.
The first euro transaction was carried out by German giant Siemens, according to Basak Toprak, JPMorgan’s head of Coin Systems for Europe, the Middle East, and Africa.
This function considerably improves standard banking practises by allowing large firms to make wholesale payments and transfer euros into and out of their JPMorgan accounts quickly and at any time of day.
(With inputs from Shikha Singh)
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