JPM Coin is now live

[Baofeng]

I already forgot about this coin, because simply JP Morgan attacks bitcoin in 2017 and then they created their own stable coins and take advantage of blockchain technology, the same technology that powered bitcoin behind. And now they confirmed that is is now live and being used major transnational tech firm for around-the-clock cross-border payments.

A year and a half after it was first announced, JPM Coin — JPMorgan Chase's in-house stablecoin — is now live and in use by a major transnational tech firm for around-the-clock cross-border payments.

According to a report on Tuesday, this real-world proof that the technology is increasing efficiency and reducing costs has bolstered the megabank's confidence in the technology's promise and profitability. With the expectation that further commercial clients will sign up to use the stablecoin, JPMorgan Chase has created a dedicated business devoted to digital currency and blockchain work.

https://cointelegraph.com/news/jpmorgan-s-stablecoin-finally-sees-commercial-light-of-day

All's well that ends well, although it is not really crypto per se, at least they have seen the light that blockchain will be the next big thing and this is what we are going to see, more banks are going to developed their own token, it's not going to be a public chain but at least internal clients will have now the options to used it for faster and at a cheaper costs

[tabas]

After the issue that their CEO brought a few years ago and then changed it to a pro-bitcoin statement. This is exactly what others have said to be expected when he said those good markings about bitcoin.
I think the same goes for other financial institutions that have adopted crypto into their service. There is a chance that they will do the same on their own usage within their service privately.

[24Kt]

After the issue that their CEO brought a few years ago and then changed it to a pro-bitcoin statement. This is exactly what others have said to be expected when he said those good markings about bitcoin.
I think the same goes for other financial institutions that have adopted crypto into their service. There is a chance that they will do the same on their own usage within their service privately.

Just like what PayPal did before to its clients who were dealing with crypto, they froze some accounts. But look at them now, integrating some alts within their system. So it is really a matter of time before some of the big companies will join this blockchain revolution. They are now seeing the benefits brought by blockchain technology. Even if they are only creating their own stablecoin, it also shows that they recognize the advantages of using blockchain in their operations.

[benthach]

let's see what it can do to the crypto community or just another dimon ploy to destroy it(crypto) credentials.

[goinmerry]

Not much speculation I have here.

From here, let's see how can they impact the current crypto market as a whole.

I'm seeing this honestly as a positive news despite JPM's negative thoughts towards bitcoin since more people will now be aware about this blockchain thing.

[tabas]

After the issue that their CEO brought a few years ago and then changed it to a pro-bitcoin statement. This is exactly what others have said to be expected when he said those good markings about bitcoin.
I think the same goes for other financial institutions that have adopted crypto into their service. There is a chance that they will do the same on their own usage within their service privately.

Just like what PayPal did before to its clients who were dealing with crypto, they froze some accounts. But look at them now, integrating some alts within their system. So it is really a matter of time before some of the big companies will join this blockchain revolution. They are now seeing the benefits brought by blockchain technology. Even if they are only creating their own stablecoin, it also shows that they recognize the advantages of using blockchain in their operations.

Yes, as you can see. That's the move and decision that these companies do.
At first, they look like a villain, and then later on they will have a change in decision and heart, and eventually, they will adopt crypto. They will not allow passing the opportunity that crypto can bring to them.

[Jating]

Of course, who would forget Dimon's attack on bitcoin in September 2017? And then they secretly buying during the dip that they cause? Such an a**.

Anyhow, it's good news though, not for crypto in general but for blockchain, because it will somehow silence the negativity surrounding bitcoin and blockchain, and these banks are the first recipient of this beautiful technology. Yes, it's going to be internal to them, but for sure their clientele will be very happy that they have their own stable coin, because it is really very fast, quick and transparent.

[LogitechMouse]

I still can't forget how he attacked Bitcoin 2-3 years ago and now he is joining the community too (at least) by creating his own stablecoin.
Like what they are saying, "If you can't beat them, join them" .

I will not say anything to that shitty bank owner but he is just one of the attackers of Bitcoin these past years who supported the one they attacked after they can't defeat it. Paypal and now JPM. Who will be the next one .

[Beparanf]

Not much speculation I have here.

From here, let's see how can they impact the current crypto market as a whole.

I'm seeing this honestly as a positive news despite JPM's negative thoughts towards bitcoin since more people will now be aware about this blockchain thing.

I'm not expecting much that this kind news will create a big impact on cryptomarket unless crypto influencer will shill and hype again the crypto market just like what happened on 2017 that even a garbage coin can be sold out in a flash when they are being introduced by an influencer like McAfee. 

But this will not gonna affect crypto market in my opinion and JPM will not gonna be listed on normal crypto exchange because I believe they are Security token.

[TravelMug]

I still can't forget how he attacked Bitcoin 2-3 years ago and now he is joining the community too (at least) by creating his own stablecoin.
Like what they are saying, "If you can't beat them, join them" .

Yes, I won't forget that, and I still remember one account, I can't remember though if this is new or old account, but he specifically claim that they are buying bitcoins and that attacked was obviously a ploy to create FUD in the market so that they can get cheap bitcoin. Again, if my memory serves me right, more than $300 million profits for them and for their clients.

I will not say anything to that shitty bank owner but he is just one of the attackers of Bitcoin these past years who supported the one they attacked after they can't defeat it. Paypal and now JPM. Who will be the next one .

And now, what a sudden turn of events, made a U-turn, and joining the crypto bandwagon. Effects? sure this is good news regardless if positive or negative, or which way we think about it.

[seoincorporation]

But why they made a stable coin, this way people will not be interested in invest in it because we can't make a profit by holding... It looks like they made the coin for internal proposes and not to share with the people new technology. In the end it's JPM, maybe their goal is to substitute the USDT.

[Kemarit]

But why they made a stable coin, this way people will not be interested in invest in it because we can't make a profit by holding... It looks like they made the coin for internal proposes and not to share with the people new technology. In the end it's JPM, maybe their goal is to substitute the USDT.

It's because this is a close source token, only internal to the bank itself, and unless they have change their mind and offer this to the public then no one can invest on it. This is not going to be a substitute to USDT but USD itself, I reckon.

As the article says, in-house stablecoin, so just within their organizations. And the only one that will really gain from this is their internal house, maybe from one branch to another, or customers to their banks.

[jrrsparkles]

Price of bitcoin seems bullish for a while so people are not going to give much attention for any of those noises created by Bitcoin haters....

[Baofeng]

Price of bitcoin seems bullish for a while so people are not going to give much attention for any of those noises created by Bitcoin haters....

Actually the attack from JPMorgan has simmer down a bit after 2017 and now they realised the potential of blockchain.

I agree with the sentiments of users, maybe it's too early to see what could be the effect, but at least we have someone changing their tune, not turning into a pro-crypto, but at least utilising blockchain technology is enough for me.

[Freebieindia]

JPM is nothing but XRP of stablecoin for institution. JPM have no competition with Bitcoin. JPM will never come to crypto market , it will be only used for institutions.

[Hhampuz]

Bitcoin = Blockchain.

[Febo]

A year and a half after it was first announced, JPM Coin — JPMorgan Chase's in-house stablecoin — is now live and in use by a major transnational tech firm for around-the-clock cross-border payments.

According to a report on Tuesday, this real-world proof that the technology is increasing efficiency and reducing costs has bolstered the megabank's confidence in the technology's promise and profitability. With the expectation that further commercial clients will sign up to use the stablecoin, JPMorgan Chase has created a dedicated business devoted to digital currency and blockchain work.

Everyone will make a stable coin. Goverments, banks, corporations. Why? Because stable coins are centralised and there is no reason fro them to trust someone else if they can trust them self.   There will be soon 10000 stable coins.

[tycsols]

It should have been a public chain and listed on exchanges to really capitalize on the crypto market and also it would have made easier for bank customers to directly buy btc and ethereum by using jpm coin. I hope all these banks and companies launching their coins will make them open and available in market too.

[yurez]

A year and a half after it was first announced, JPM Coin — JPMorgan Chase's in-house stablecoin — is now live and in use by a major transnational tech firm for around-the-clock cross-border payments.

According to a report on Tuesday, this real-world proof that the technology is increasing efficiency and reducing costs has bolstered the megabank's confidence in the technology's promise and profitability. With the expectation that further commercial clients will sign up to use the stablecoin, JPMorgan Chase has created a dedicated business devoted to digital currency and blockchain work.

Everyone will make a stable coin. Goverments, banks, corporations. Why? Because stable coins are centralised and there is no reason fro them to trust someone else if they can trust them self.   There will be soon 10000 stable coins.

I think you are right, and in the next two or three years or earlier, a boom in stablecoins will begin, financial institutions, banks and corporations in large quantities will start issuing them.

[target]

let's see what it can do to the crypto community or just another dimon ploy to destroy it(crypto) credentials.

It can't do anything to crypto but it can do many things for JPM and to Jaime himself.  Stablecoin like JPM is backed and pegged USD but we've already learned they are not just like tether which they claimed to have only 70%+ of its USD. 

I'm sure its best to create a stablecoin if you have your own exchange and Jaime could have one soon. So if you trust Jaime despite how much he tried to ruin BTC before, use his exchange.