Financial giant JP Morgan announced the launch of its own token

One of the largest financial conglomerates in the world, JP Morgan Bank announced the launch of its own digital currency.

We are talking about the launch of the JPM Coin token, CNBC TV channel reports. This digital asset will be used by the Bank for mutual settlements with counterparties of the financial institution. Within the next few months, the token test will begin.

If the project is implemented successfully, and the coin really will enter the market, it will be the first figure of the asset, which produces a large American investment Bank.

It is worth noting that in mid-2018, the largest Japanese investment Bank Mitsubishi UFJ Financial Group also officially announced the imminent launch of its digital coin. THE mufg Coin will be used by the financial giant to Finance internal operations and settlements with partners.

By the end of 2019, MUFG Bank plans not only to test the coin, but also to start its implementation in several regions of Japan, where there are representative offices of the conglomerate.

It is worth noting that JP Morgan CEO Jamie Dimon has repeatedly criticized bitcoin and called this digital asset a fraud.

However, now JP Morgan Bank is interested not only in cryptocurrencies, but also actively works on creating its own blockchain network created on the basis of ether.