Partior Integration Marks New Chapter for JPMorgan’s JPM Coin
JPM Coin, JPMorgan’s designated token for settling same-bank transactions, has entered a new phase by making its debut on Partior, a blockchain-based banking settlement system.
This milestone opens up the possibility of utilizing JPM Coin for interbank transactions, enhancing its role within the broader financial ecosystem. Partior, a collaborative effort involving JPMorgan, DBS Bank, Temasek, and Standard Chartered, aims to streamline and expedite multicurrency transactions among its member banks, showcasing the potential of blockchain assets in facilitating seamless financial interactions.
Despite the progress in enabling interbank transactions, it’s noteworthy that Partior still relies on correspondent banking for settling transaction outcomes. This nuanced approach maintains a connection to the traditional banking system, reflecting the delicate balance between innovation and the existing financial infrastructure as the industry explores the broader adoption of blockchain technology in banking settlements.
Clever Robot News Desk 5th December 2023
