JP Morgan Chase, one of the largest banking giants based in the US, has reportedly started developing a blockchain-based token to accelerate cross-border payments, according to a Bloomberg report published in the evening. The report states that an anonymous source, who provides the latest information on the subject, claims that if approved by regulators, the developed token could be released to the market for customer use in less than a year.
With the increasing adoption of blockchain technology, crypto projects are reaching wider audiences on a global scale every day. The adoption rates of cryptocurrencies have been rapidly rising in recent years.
The involvement of institutional investors in the crypto industry, making various investments and developing projects in this field, has significantly contributed to the adoption of cryptocurrencies. This process has also seen a significant increase in the number of crypto projects.
Meanwhile, as the adoption of blockchain technology and cryptocurrencies continues to grow, JP Morgan Chase has made a new move. According to Bloomberg, the US-based banking giant has started developing a blockchain-based token.
Development of a Blockchain-Based Token
In recent years, many corporate companies have started making investments in the crypto industry and developing various projects in this field. According to news in the media in the evening, it was claimed that JP Morgan Chase has developed a token to accelerate cross-border payments.
JP Morgan Chase, one of the largest banking giants based in the US, has started developing a blockchain-based token to accelerate cross-border payments. According to Bloomberg’s report, an anonymous source providing the latest information on the subject stated that if regulators approve, the developed token could be released to the market for customer use in less than a year. Although the anonymous source mentioned in Bloomberg’s report stated that the company has developed a blockchain-based token and that this token could be released to the market in less than a year, there has been no official statement from JP Morgan officials regarding the matter yet. However, according to the information provided by the news source, JP Morgan Chase, which is conducting research on the subject, is still in the early stages of this process.
