JPMorgan's JPM Coin Predicted to Handle $10B Daily Transactions

JPMorgan's JPM Coin Predicted to Handle $10B Daily Transactions



JPMorgan Chase & Co. has high expectations for its digital token, JPM Coin, predicting it will handle daily transactions worth $10 billion in the coming year. This forecast was shared by Umar Farooq, the bank's Global Head of Financial Institution Payments, during an interview at the Singapore FinTech Festival covered by Bloomberg.



Farooq is highly optimistic about JPM Coin's future, anticipating a significant surge in its transaction volume, potentially increasing by five to ten times. He believes the digital token is poised for rapid growth, remarking, “We really think it’s going to start taking off.”



Currently, as Takis Georgakopoulos, JPMorgan’s Global Head of Payments, reported, JPM Coin processes around $1 billion in transactions each day, predominantly in US dollars. This amount, though substantial, is just a small port


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