.jpg){kind=avatar}
The bank has developed most of the underlying infrastructure needed to run the new form of payment, but wouldn’t create the token unless the project is approved by US regulators. Deposit tokens are transferable digital coins that represent a deposit claim against a commercial bank.
{
“Deposit tokens bring plenty of potential benefits, but we also appreciate that regulators would want to be thoughtful and diligent before any new product gets developed and used,” a JPMorgan spokesperson said in a statement. “Should that appetite develop, our blockchain infrastructure would be able to support the launch of deposit tokens relatively quickly.”
More posts by Sarah Wolter
Recent posts from News by FinTech Collective