Citi Has Scrapped Its Plan for a JPM Coin-Like Bank-Backed Cryptocurrency
Several years back Citi tested a bank-backed cryptocurrency similar to JPMCoin. The lesson it learned? It's easier to rely on SWIFT.
The bank had allegedly charged the plaintiff over $160 in fees and interest for regularly purchasing cryptocurrencies with his credit card.
JPMorgan Chase has filed a patent and is testing a blockchain system for tracking the automobile inventory it finances for car dealers.
The JPMorgan subsidiary has agreed to repay most of $2.5 million it took in credit card fees for cryptocurrency purchases.
JPMorgan has developed a new privacy feature for ethereum-based blockchains that hides both the sender and the amount in a transaction.
Decentralized systems are coming for the banks, argued Circle CEO Jeremy Allaire, in a panel Wednesday at the International Monetary Fund.