JPMorgan’s JPM Coin Records $1B Daily Transaction Volume

One of the largest asset manager, JPMorgan’s blockchain based payment system is now recording over $1 billion in daily transaction volume.

JP Morgan, one of the world’s top asset managers, processes approximately $1 billion in daily transactions through their blockchain-based payment system, which employs the JPM token.

JP Morgan‘s global head of payments, Georgakopoulos, told Bloomberg that “today we move $1 billion every day through JPM Coin for a number of large companies.”

While the figure represents only a small percentage of the company’s $10 trillion in daily activity via traditional payment processing, it demonstrates that JPM Coin has gained substantial traction in recent months.

Georgakopoulos went on to say that the JPM Coin can provide the same efficiency to retail customers, but that this has yet to be planned. It is currently only available to wholesale and corporate clients of JP Morgan.

JPM Coin is a secure payment infrastructure based on blockchain that allows the company’s commercial clients to move US dollars and euros. It operates around the clock and provides large institutions with a rapid, dependable, and efficient liquidity transfer option.

JPM Coin has processed almost $300 billion since its start in 2020 till June, and with the current daily volume, it can process the same volume within a year.

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