Commercialization of blockchain technology
According to Takis Georgakopoulos, the bank’s global head of wholesale payments, JPM Coin is being used by a large technology client to send payments globally.
“We are launching Onyx because we believe we are shifting to a period of commercialization of those technologies, moving from research and development to something that can become a real business.”
JPMorgan views the move as a stepping stone towards the commercialization of blockchain technology so that it can drift away from the confines of research and development to a business entity.
“JPMorgan is focused on relieving pain points in the world of wholesale payments, specifically areas where the industry could save hundreds of millions of dollars with a better solution.”
Facilitating cross-border payments
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