JPMorgan Moves JPM Coin to Ethereum Public Blockchain
(3 hours ago) · 1 source · Summarized by CryptoBipto
JPMorgan has reportedly brought its JPM Coin onto the Ethereum public blockchain, marking a shift from its previous use on private, permissioned networks. This move places a major bank's digital dollar-denominated token on a blockchain accessible to the broader public.
WHY IT MATTERS
Think of JPM Coin as a digital version of dollars that JPMorgan clients use to send payments to each other instantly. Previously, this token only worked on JPMorgan's own private network, like an internal company email system that only employees can use. Moving it to Ethereum is like making that system work with the public internet, where it can potentially connect with a much wider ecosystem of financial tools and applications. For people new to crypto, this is significant because it shows one of the world's largest banks choosing to use the same public blockchain technology that powers many cryptocurrencies and decentralized applications, rather than keeping everything behind closed doors.
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- decrypt.co
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