• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Cryptos

JPM coin: What it is and what it means for Cryptocurrency

Quidax by Quidax
March 5, 2019
in Cryptos, Markets, Spotlight
JPM Coin: What it is and what it means for Cryptocurrency
Share on FacebookShare on TwitterShare on Linkedin

On the 14th of February 2019 (Valentine’s day to some), the tech community was enthralled to receive news of JP Morgan Chase’s official release of its digital currency, the JP Morgan coin. According to official reports, “the JPM Coin is designed for business-to-business money movement flows”, but is still in test phase which means that it is not available to individuals at the moment.

The American multinational investment bank introduced its JPM coin to work similarly as the Bitcoin. It was designed to speed up transactions between the bank’s customers. It uses US dollars as its primary trading currency which reduces its volatility. The JPM coin is the first major bank-affiliated digital coin to be introduced in America for global scale usage.

JPM coin is worthy of note because it affirms the potential of blockchain in the global financial system. It is built on Quorum (an Ethereum-based Blockchain also created by JP Morgan). But what does JPM coin really mean for cryptocurrency?

RelatedStories

Nigeria’s Justice System is Ruining Investment Confidence – Johnson Chukwu Shares His Story On Talknomics

Nigeria’s Justice System is Ruining Investment Confidence – Johnson Chukwu Shares His Story On Talknomics

June 14, 2025
What does liquidity mean in crypto? 

What does liquidity mean in crypto? 

May 23, 2025

Understandably, many cryptocurrency enthusiasts do not acknowledge JPM Coin as a cryptocurrency, which we agree with. However, its creation is a step in the right direction. In other, to drive cryptocurrency adoption, blockchain needs to be adopted by traditional financial institutions, and the size and sheer influence of JP Morgan Chase makes it the best place to start.

According to the company, the coin, which at present is still in its pilot stage, it is slated to be tested with a “small number” of its clients. This “small” sample is a total of 27 million accounts! Whether or not the test is successful, the data gathered will be monumental in the advancement of cryptocurrency and blockchain in general. In addition, other companies will be able to assess and develop based on these research materials.

The introduction of JPM Coin is a win for cryptocurrency, as it lends legitimacy to Bitcoin and its potential which some have regarded as a fraud. While, Bitcoin, might not directly be affected by JPM coin, cryptocurrency trading, in general, will benefit. Confidence in cryptocurrencies will also be strengthened by JP Morgan’s affiliation.

In summary, cryptocurrency benefits from the creation of JPM coin in three major ways:

  • Validation of cryptocurrencies as the future for financial systems.
  • The massive sample size for future testing and referencing.
  • Drive adoption and confidence in digital currencies.

The existing financial systems took decades, no, near centuries to become what it is today. Cryptocurrency is a long term game so the way we see it JPM Coin has made it one day shorter.


This article is in partnership with Quidax. Quidax is a European based digital assets exchange with a focus on Africa. We provide a seamless platform for users to send, receive, buy and sell cryptocurrencies using their local currencies.


Follow us for Breaking News and Market Intelligence.
Tags: BlockchainCryptocurrencyJP MorganJPM CoinOn the MoneyQuorum
Quidax

Quidax

Related Posts

Nigeria’s Justice System is Ruining Investment Confidence – Johnson Chukwu Shares His Story On Talknomics
Digital Media

Nigeria’s Justice System is Ruining Investment Confidence – Johnson Chukwu Shares His Story On Talknomics

June 14, 2025
What does liquidity mean in crypto? 
Opinions

What does liquidity mean in crypto? 

May 23, 2025
Learn why Nosh is the best platform to sell crypto in Nigeria and how to easily exchange your crypto
Companies

Learn why Nosh is the best platform to sell crypto in Nigeria and how to easily exchange your crypto

May 20, 2025
Banking Fraud
Cryptos

FBI report reveals crypto investment scams accounted for $5.8 billion of 2024 fraud losses 

April 24, 2025
New Loans: We have budgetary approval for N1.7 trillion in new external borrowing-DMO 
Economy

Nigeria in advanced talks to re-enter JP Morgan bond index before end of year

April 24, 2025
Bitcoin
Cryptos

Bitcoin surges past $93K as U.S.–China trade war eases, boosting investor confidence 

April 23, 2025
Next Post
International Women’s Day, Only these 6 countries treat men and women equally in the world

Only 6 countries treat men and women equally in the world

Comments 1

  1. John Hynaija says:
    March 10, 2019 at 9:24 am

    Thanks for the information, a lot of people do but know about JPM coin.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • NDLEA intercepts 157,800 bottles of codeine syrup worth over N1.1 billion at Rivers State 
  • Nigeria’s crude oil export falls by over 16% to N12.95 trillion in Q1 2025
  • Lagos govt seals Okota building for channeling raw sewage into public drainage 

Follow us on social media:

Recent News

NDLEA intercepts 157,800 bottles of codeine syrup worth over N1.1 billion at Rivers State 

NDLEA intercepts 157,800 bottles of codeine syrup worth over N1.1 billion at Rivers State 

June 15, 2025
Latest crude oil price drop threatens Nigeria’s revenue and naira stability 

Nigeria’s crude oil export falls by over 16% to N12.95 trillion in Q1 2025

June 15, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics