News
JPMorgan’s Kinexys unit is taking JPM Coin beyond its existing rails, planning a native launch of the US dollar deposit token on the Canton Network.
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JPMorgan Chase News
JPMorgan Chase is a multinational banking and financial services firm based in New York City in the United States. It is the largest bank in the world in terms of market capitalization and serves millions of customers globally. In 2017, JPMorgan Chase announced it was working on a blockchain-based platform for processing payments. The platform, called Quorum, is a private permissioned blockchain based on Ethereum and is designed to be used by large enterprises. Quorum is notable for its focus on privacy and security and includes features such as data encryption and voting mechanisms that allow users to control who can access the network. In August 2020, JPMorgan Chase sold Quorum to blockchain software company ConsenSys.
JPMorgan Chase has also been involved in other blockchain initiatives, such as the Enterprise Ethereum Alliance (EEA). The EEA is a consortium of enterprises working together to develop enterprise-grade applications on the Ethereum blockchain. JPMorgan Chase is a founding member of the consortium and has worked on projects such as Quorum with other member companies. In 2021, JPMorgan Chase launched its own cryptocurrency, JPM Coin. The cryptocurrency is designed for use in institutional payments, and each coin is backed by one U.S. dollar. Because JPMorgan Chase is one of the largest financial institutions in the world, its involvement in blockchain technology highlights the potential for blockchain in traditional finance.
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Moody’s said stablecoins and tokenized deposits are evolving into institutional “digital cash,” with trillions in onchain settlement volume and billions in infrastructure investment.
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JPMorgan has launched a tokenized money market fund on Ethereum, highlighting how regulated cash products may integrate into onchain settlement and collateral workflows.
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JPMorgan has reportedly frozen accounts linked to Y Combinator–backed stablecoin startups BlindPay and Kontigo after flagging exposure to sanctioned jurisdictions.
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Prediction markets are moving into crypto’s mainstream as Crypto.com’s in-house market maker raises fairness questions and Coinbase doubles down on growth.
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Ethereum is increasingly powering tokenized money, faster settlement and regulated onchain infrastructure — even as institutions avoid naming it outright.
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The move by the traditional banking giant would represent a significant deepening of ties to the crypto industry and change in CEO Jamie Dimon’s approach to digital assets.
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Issued by SoFi Bank, the dollar-backed token is designed for payments and settlement across banks, fintechs and enterprise platforms.
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The new Ethereum-based fund backed by JPMorgan allows qualified investors to earn US dollar yields and subscribe or redeem using cash or stablecoins.
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The move makes PNC the first major US bank to offer spot Bitcoin trading within its own digital platform, starting with private bank clients.
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HashKey opens IPO subscriptions as it seeks to raise $214.7 million, valuing Hong Kong’s biggest crypto exchange at about $2.5 billion.
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It was only last month when Jack Mallers, CEO of Bitcoin payments company Strike, accused JPMorgan of closing his personal accounts without explanation.
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Fin, founded by two former Citadel engineers, raised capital to launch a stablecoin app for cross-border payments as banks and fintechs expand into digital assets.
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Strike CEO Jack Mallers said JPMorgan closed his accounts without explanation, reigniting fears of Operation Chokepoint 2.0 and renewed pressure on crypto companies.
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JPMorgan Chase has begun deploying its deposit token, JPM Coin, allowing institutional clients to make instant 24/7 transfers of US dollar deposits on Base.
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