SEC proposal would expand its “test-the-waters” program, with the goal of encouraging more companies to go public.

Designed to support cross-border payments, JPM Coin will be a direct competitor to Ripple's XRP, but with a stable value pegged to the U.S. dollar.

The bank believes JPM Coin “can yield significant benefits by reducing clients' counterparty and settlement risk, decreasing capital requirements, and enabling instant value transfer.”

Excess cash resulting from tax law changes means tech companies are paying down debt, despite low interest rates.