• About Us
  • Careers
  • Contact
No Result
View All Result
Wednesday, August 27, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home News

JPMorgan’s Director Eyes 10x Increase in Daily Transaction Volume For JPM Coin

15 November 2023
in News
Reading Time: 3 mins read
105 6
JPMorgan's Director Eyes 10x Increase in Daily Transaction Volume For JPM Coin

Source: Analytics India Magazine

Umar Farooq, JPMorgan’s Global Head of Financial Institution Payments, has projected that the bank’s premier flagship digital asset, JPM Coin, will soon start processing daily transactions of over $ 10 billion within the next one or two years.

Farooq shared this projection during an interview with Bloomberg Television on November 15, 2023, on the sidelines of the ongoing Singapore FinTech Festival while expressing confidence that the digital asset is poised for significant growth.

“We really think it’s going to start taking off,” he remarked. 

Despite representing a small fraction of the bank’s daily transaction volume, A JPMorgan executive has stated that JPM Coin is handling approximately $1 billion worth of transactions daily. Farooq is optimistic that the digital asset could achieve a growth rate of at least five to ten times this current figure in a short timeframe.

JPMorgan stands out among traditional financial institutions for its proactive exploration of blockchain and related technologies to enhance its operations. JPM Coin is an example of these pursuits. Notably, it represents a pioneering example of a live blockchain application. 

JPM Coin was introduced in 2020 as part of the bank’s Onyx Coin Systems to facilitate transactions around the clock for its institutional clients through a private blockchain network. The digital asset has reportedly facilitated transactions worth $300 billion despite not yet being fully scaled by the bank. 

Initially, the asset only supported payments in U.S. dollars. However, in June this year, the bank confirmed that JPM Coin now supports payment in Euros. 

In parallel developments, Singapore’s Monetary Authority has tapped JPMorgan to participate in its extensive undertaking, known as Project Guardian, to explore the viability and feasibility of various use cases of asset tokenization.

JPMorgan and Apollo were selected to demonstrate how blockchain technology could be used to manage large-scale client portfolios and automate processes for portfolio management of tokenized financial assets. This collaborative effort also involves three additional companies – Axelar Inc., Oasis Pro, and Provenance Blockchain.

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Tags: JPMorgan. MASSingapore
Share64Tweet40Share11
Favour Olaiya

Favour Olaiya

Favour is passionate about education and empowering people through knowledge sharing. He creates content centered around societal development and providing access to technology. When he's not doing this, you can find him nose-deep in classic books or taking a deep dive into the intriguing history of science.

Related Posts

source: coinmarketcap.com
Crypto

KuCoin Launches Anti-Phishing Month to Elevate User Security and Combat Crypto Scams

26 August 2025
source: dlnews.com
Ethereum

Blue-Chip NFTs Hold Ground Despite Ethereum’s Price Retreat, CryptoPunks Show Resilience

26 August 2025
source: thecryptogateway.it
Crypto

Bitpanda Rules Out London Listing, Eyes Frankfurt or New York Instead

26 August 2025
Pudgy Penguins Sold One Million Toys in 12 Months, CEO Luca Schnetzler Reveals
Crypto

Pudgy Penguins to Reward Early Pudgy Party Players With Exclusive Soulbound Token

26 August 2025

Editors Picks

Web3 in 2025: Where We Are, What’s Next, and What the Data Says

Web3 in 2025: Where We Are, What’s Next, and What the Data Says

byOlayinka Sodiq
21 July 2025
0

What Is a Rebase Token and How Does It Work?

What Is a Rebase Token and How Does It Work?

byOlajumoke Oyaleke
28 June 2025
0

What Are DeFi Options Vaults, and How Do They Work?

What Are DeFi Options Vaults, and How Do They Work?

byOlajumoke Oyaleke
26 June 2025
0

What Are Teardrop Attacks in Crypto?

byOlajumoke Oyaleke
17 June 2025
0

What Are Fractional NFTs, and How Do They Work?

What Are Fractional NFTs, and How Do They Work?

byBlessing Lisafi
7 February 2024
0

Read More

Chain of Thoughts

What Happens When AI Gets a Wallet?

What Happens When AI Gets a Wallet?

byOlu Omoyele
31 July 2025
0

...

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

byOlu Omoyele
30 June 2025
0

...

Are Stablecoins Bank Deposits?

Are Stablecoins Bank Deposits?

byOlu Omoyele
31 May 2025
0

...

DAOs and the Coordination of Human Endeavour

DAOs and The Coordination of Human Endeavour

byOlu Omoyele
27 April 2025
0

...

Markets Update

Your Weekend Crypto Roundup | August 2025 (Week 4)

5 days ago

SUI Ecosystem: Price Prediction, Market Dynamics, and Strategic Developments

6 days ago

How Much Ethereum Do Public Companies Actually Own?

1 week ago

Your Weekend Crypto Roundup | August 2025 (Week 3)

2 weeks ago

Ripple vs. SEC Nears Final Countdown: Will August 15 End Crypto’s Longest Court Battle?

2 weeks ago

Cardano Price Prediction 2025–2030: Decentralized Governance, Technical Upgrades, and Investment Outlook

2 weeks ago
Read More

Events

CBDC Conference
CBDC Conference
9 Sep 25
Nassau

Spotlight

All about Ethereum
All about Algorand
All about Bitcoin
All about Gora

Press Releases

Origin Summit Debuts in Seoul during KBW as Flagship Gathering on IP, AI, and the Next Era of Blockchain-enabled Real-World Assets

bychainwire
26 August 2025
0

ROVR Releases Open Dataset to Power the Future of Spatial AI, Robotics, and Autonomous Systems

bychainwire
26 August 2025
0

Newcastle United Announce Multi-year Partnership With BYDFi

bychainwire
26 August 2025
0

R0AR Chain Launches Public Node Sale Following $1 Million Whitelist Success

bychainwire
26 August 2025
0

NE-YO Partners with Neura to Transform Entertainment with Emotional AI

bychainwire
25 August 2025
0

Read More

ADVERTISING

ABOUT

TEAM

CAREERS

CONTACT

TERMS & CONDITIONS

PRIVACY POLICY

© Copyright 2025 DeFi Planet

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.

Add New Playlist

No Result
View All Result
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

© Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00