News
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
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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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Twenty One Capital, backed by Cantor Fitzgerald and Tether, may begin issuing US dollar loans using Bitcoin as collateral.
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Coinbase and JPMorgan Chase partner to bring crypto purchases, stablecoin rewards and direct bank integrations to Chase customers.
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Divine Research has issued 30,000 unbacked USDC loans using Sam Altman’s World ID to verify borrowers, targeting underserved users.
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Tyler Winklevoss claims JPMorgan paused Gemini's onboarding after he criticized the bank’s data access fees, calling the move anti-competitive.
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Goldman Sachs and BNY Mellon’s tokenization push aims to keep money market funds competitive as the US accelerates stablecoin adoption, according to a JPMorgan strategist.
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1inch co-founder Sergej Kunz told Cointelegraph that DeFi’s user experience, wider collateral range and optimized fees give it an edge over TradFi in the lending race.
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The Financial Times cited an unidentified source saying CEO Jamie Dimon’s previous remarks about Bitcoin had alienated some potential clients.
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JPMorgan, Citigroup and Bank of America are all in the early stages of stablecoin development.
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Big banks have been weighing an entry into the stablecoin market as the US Congress debates digital assets regulation.
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JPMorgan’s blockchain lead says merging TradFi with DeFi is accelerating, as the bank’s pilot with Chainlink and Base shows traditional institutions moving onchain.
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In a media interview, Chair Paul Atkins pledged to empower businesses to innovate through tokenization.
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While seeing Circle as well-positioned in the market, JPMorgan analysts warned that competition is a potential threat to the stablecoin issuer.
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Stablecoins are now the “default settlement layer for the internet,” surpassing Visa and Mastercard in onchain transaction volume.
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JPMD may be JPMorgan’s next digital currency. Here’s what the trademark filing reveals about stablecoins, deposit tokens and the GENIUS Act.