Bitcoin’s tantalizing rise to $18,000—a 13% increase in the space of a week—still isn’t enough to impress JPMorgan Chase chief executive Jamie Dimon. However, that isn’t to say that Dimon is skeptical about digital assets or the power of blockchain technology.
JPMorgan’s digital currency goes live
The first bank-created cryptocurrency, the JPM Coin, will be used for cross-border payments by a global IT firm starting this week
The bank has also created a new division for its digital currency and blockchain business called Onyx. The move marks the bank’s belief that the technologies are ready to be commercialized
ConsenSys acquiring JPMorgan’s Quorum enterprise blockchain solution
The deal is a big win for Joe Lubin’s Ethereum venture studio, and will allow the bank to pull back from supporting an open blockchain with a growing number of users
Ethereum-focused enterprise blockchain development firm ConsenSys announced that it will acquire JPMorgan’s Quorum distributed ledger solution. It is part of a strategic investment in the firm by JPMorgan.
Major bank haul: Coinbase, Gemini break into JPMorgan Chase
By taking on the regulator-friendly Coinbase and Gemini as clients, JPMorgan Chase has become the first large bank to knowingly agree to do business with cryptocurrency exchanges in years.
Two major U.S. cryptocurrency exchanges known for aggressively seeking regulatory approval, Coinbase and Gemini, have been accepted as JPMorgan Chase customers, breaking through an important glass ceiling in the financial industry.