JPMorgan Explores Blockchain-Based Deposit Tokens for Cross-Border Payments Amid Regulatory Challenges

JPMorgan Explores Blockchain-Based Deposit Tokens for Cross-Border Payments Amid Regulatory Challenges



JPMorgan Chase & Co. is venturing into the world of digital tokens based on blockchain technology, with the aim of improving international payments and transactions. However, regulatory approval remains a key obstacle for this advanced form of payment.



A Bloomberg report indicates that the New York-based investment bank is further embedding itself in the blockchain world by introducing a new kind of digital deposit token to better facilitate payments on its network.



In layman's terms, deposit tokens are digital stand-ins for the deposits that customers hold in their commercial banks. Using blockchain technology, these tokens are intended to make transactions and settlements much more efficient.



The speed of transactions with deposit tokens could lead to a significant decrease in transaction costs.



While JPMorgan is


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