JPMorgan Chase Rolls Out Digital Coin and Creates New Unit for Digital Currencies - citybizlist | The Marteq Alert |
JPMorgan Chase (NYSE:JPM) is making a lot of progress on its digital currency initiatives. The bank is reportedly set to put its own digital currency, the JPM coin, to use this week for the first time, while also creating its own division to oversee all crypto and digital currency initiatives, according to media outlets.

A large technology client will use the JPM coin to conduct global payments activity, according to Takis Georgakopoulos, the bank's global head of wholesale payments. Georgakopoulos, according to CNBC, also said the new digital currency division will be called Onyx and have more than 100 employees.

"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," Georgakopoulos said.