Does JPMorgan Chase have a digital currency?

JPMorgan Chase ( JPM -1.61%) is making a lot of progress on its digital currency initiatives. The bank is reportedly set to put its own digital currency, the JPM coin, to use this week for the first time, while also creating its own division to oversee all crypto and digital currency initiatives, according to media outlets.

How much money does JPMorgan Chase & Co use a day?

JPMorgan Chase & Co. ’s digital token JPM Coin now handles $1 billion worth of transactions daily and the bank plans to continue widening its usage, Global Head of Payments Takis Georgakopoulos said.

Why did JPMorgan create the JPM Coin?

Furthermore, the company said customers could use the digital assets to make purchases from its network of 26 million merchants. JPMorgan created the JPM coin in February of 2019 as a way for customers and clients to exchange money through blockchain technology.

How much money does JP Morgan Chase invest in Bitcoin?

Morgan Stanley - $234 million with 3 investments One of its investments is NYDIG, a crypto custody firm and the bitcoin subsidiary of Stone Ridge, a $10 billion alternative asset manager. 7. JP Morgan Chase - $206 million and 8 investments