JPMorgan Chase: The JPM Coin payment system processes about $1 billion in transactions daily and will consider launching a retail version

ChainCatcher news, JPMorgan Chase's global payments head Takis Georgakopoulos revealed that the company processes about $1 billion in transactions daily through the JPM Coin payment system. Georgakopoulos stated that the next step for JPM Coin is to consider how to create a retail version.

It is reported that JPM Coin is a permissioned blockchain-based payment system that allows the bank's wholesale clients to transfer US dollars and euros, initially supporting only US dollars but expanding to include euros in June of this year. In June of this year, JPMorgan Chase stated that since its launch in 2020, JPM Coin has processed over $300 billion in transactions.