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.
Noong 2024, hindi bababa sa isang katlo ng mga commercial bank ang nag-aaral o nagsasagawa na ng pilot testing para sa mga tokenized deposit, ayon sa isang survey ng Bank for International Settlements.
Nakikita ng JPMorgan na ang Coinbase ay makakakuha ng bilyun-bilyong dolyar sa pamamagitan ng Base layer-2 network nito at ng pag-aayos sa mga reward ng USDC. Dahil dito, tinaasan nila ang price target, na nagpa-igting sa pag-akyat ng stock nila.
Ito ay maaaring maging mas kaakit-akit sa Bitcoin at Ether para sa mga institutional investor na naghahangad na lubos na mapakinabangan ang gamit ng kanilang mga asset.
Sa simula, lilimitahan ng wealth management division ng Morgan Stanley ang mga alokasyon sa crypto at magsisimula sa mga Bitcoin fund mula sa BlackRock at Fidelity, na posibleng magdagdag ng iba pang mapagpipilian sa huli.
Sabi ni JPMorgan CEO Jamie Dimon, hindi magbabawas ng rate ang Federal Reserve hangga't hindi lumalamig ang inflation, at idinagdag niyang siya ay "hindi masyadong nag-aalala" tungkol sa mga stablecoin.
Mga executive ng Uniswap, Aptos, BNY, Chainlink, JP Morgan, at Franklin Templeton, sumali sa Digital Asset Markets Subcommittee ng CFTC sa ilalim ni Acting Chair Pham.