JPMorgan Chase & Co. is seeing interest from clients in theUnited States, Europe, and Japan on the potential for its prototypedigital coin to speed up trading of securities such as bonds.
JPM Coin could enable “instant” delivery ofbonds on a blockchain platform, said Umar Farooq, head ofdigital treasury services and blockchain at the U.S. bank. “Webelieve that a lot of securities over time, in 5 to 20 years, willincreasingly become digital or get tokenized,” he said in aninterview in Tokyo.
Unveiled in February, JPM Coin ispegged to the U.S. dollar and uses the bank's private blockchain.JPMorgan has been testing the token to enable institutional clientsto transfer payments instantly, it said at the time.
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