1 month ago
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Key Takeaways
- JPMorgan has no announced stablecoin product.
- The reported review remains at an early stage.
- JPM Coin represents tokenized bank deposits.
- Other banks are discussing a commercial stablecoin.
- Product terms and customer access remain undisclosed.
JPMorgan says no stablecoin product is under way
JPMorgan recently evaluated whether it could issue its own stablecoin, according to an August 26 Wall Street Journal report citing people familiar with the matter. The discussions were preliminary, the report said. A JPMorgan spokesperson added that the bank has no plans to issue a stablecoin and would assess options as customer demand and regulation evolve.
The report contains no product terms. JPMorgan has not identified an issuer, reserve assets, redemption process, blockchain, eligible customers or launch date. Nothing released to the publ...
English (US)