THELOGICALINDIAN - The US better coffer has active the aboriginal lender from cryptocurrencyfriendly Singapore to its Blockchain payments platform
OCBC Joins 342 Banks Keen On Quorum
In a press release on September 19, JPMorgan Chase accepted added than 300 banks were now complex in the Interbank Information Network (IIN).
These now accommodate Oversea-Chinese Banking Corporation (OCBC), the additional better coffer in Southeast Asia by assets.
IIN revolves about Quorum, which is based on the Ethereum Blockchain. Quorum is JPMorgan’s acknowledgment to agenda bill addition in the cross-border payments space. It vies with offerings such as Ripple for cyberbanking area custom.
In total, the activity now appearance 343 banks, of which the 80 Japanese institutions accomplish up the better admeasurement from a distinct country.
John Hunter, Global Head of Clearing for JPMorgan commented in the columnist release,
JPMorgan’s Split Personality On Blockchain
Competition amid cyberbanking giants apropos cryptocurrency continues to calefaction up in 2019. As Bitcoinist reported, aloof this anniversary adolescent lender Wells Fargo appear its own stablecoin for cross-border transfers.
Dubbed Wells Fargo Digital Cash, the alms will attempt with JPMorgan’s own JPM Coin which it apparent beforehand this year.
At the aforementioned time, both banks abide adverse to decentralized cryptocurrencies such as Bitcoin [coin_price]. Wells Fargo hit the account in July back it emerged admiral were clearly barring customers from administering affairs associated with crypto.
JPMorgan’s accent on Quorum meanwhile strikes a absolutely altered tone.
“J.P. Morgan is exploring new applications that can be deployed beyond the arrangement as able-bodied as allotment IIN actor banks to be allotment of a developer ecosystem in which they can advance their own solutions for accessible use beyond the network,” the columnist absolution continues.
The amplification comes amidst testing times for the coffer elsewhere. A fresh scandal involves allegations from US assembly that traders on its adored metals board advantaged in amount acclimation over a aeon of eight years.
A academic analysis and accusation into the parties complex is ongoing, Bitcoinist reported.
What do you anticipate about JPMorgan’s Blockchain plans? Let us apperceive in the comments below!
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