BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home BREAKING NEWS

JPMorgan’s JPM Coin to Soon Hit $10 Billion in Daily Transactions

BlockNews.com Team by BlockNews.com Team
November 15, 2023
in BREAKING NEWS, BUSINESS, CRYPTO, TECHNOLOGY
Reading Time: 3 mins read
#image_title

#image_title

2
SHARES
28
VIEWS
Share on XShare in TelegramShare on Reddit
  • JPMorgan Chase expects its digital token JPM Coin to process $10 billion in daily transactions within the next year, representing a 10x increase from current levels according to the bank’s Global Head of Financial Institution Payments.
  • JPM Coin currently handles around $1 billion in daily transactions, mainly in US dollars, but this is still a small fraction of JPMorgan’s total $10 trillion in daily US dollar transactions.
  • The bank is looking to expand JPM Coin’s usage beyond wholesale clients to explore retail applications that can deliver instantaneous payments at lower costs to consumers.

JPMorgan Chase & Co is expecting its digital token JPM Coin to process $10 billion in daily transactions in the upcoming year. This projection comes from insights shared by Umar Farooq, the bank’s Global Head of Financial Institution Payments, in an interview with Bloomberg at the Singapore FinTech Festival.

JPM Coin Transaction Volume Expected to Increase Tenfold

Farooq expressed optimism about the potential for JPM Coin, highlighting the anticipation of a five to tenfold increase in transaction volume. Emphasizing the coin’s impending popularity, he stated, “We really think it’s going to start taking off.” As reported earlier, JPM Coin currently handles approximately $1 billion in daily transactions, mainly in US dollars, according to Takis Georgakopoulos, JPMorgan’s Global Head of Payments.

Despite this substantial volume, it represents only a fraction of the colossal $10 trillion in US dollar transactions managed by the banking giant daily. JPM Coin facilitates secure and efficient dollar and euro-denominated payments for wholesale clients through a private blockchain network. The banking giant is looking to expand the token’s usage.

🚨 NEWS: JPMorgan forecasts JPM Coin to process $10 billion daily in the coming year.

The private chain currently processes $1 billion daily. pic.twitter.com/tlj0W3rVCh

— BlockNews.com (@blocknewsdotcom) November 15, 2023

Exploring JPM Coin’s Retail Applications

While proponents of blockchain technology argue for its potential to deliver instantaneous payments at lower costs, the real-world scalability of digital ledgers remains a topic of ongoing exploration. The bank’s official further revealed that the next step in that journey is to “think about how you can create a more retail version of that so that you can bring that same efficiency to consumers.”

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: BlockchainBloombergJPM CoinJPMorganTakis GeorgakopoulosUmar Farooq
Tweet1ShareShare
BlockNews.com Team

BlockNews.com Team

The go-to news source for Cryptocurrency, Blockchain, Technology, & Finance

DON'T MISS THESE! HOT OFF THE PRESS

VivoPower Bets Big on XRP Treasury Strategy with Doppler Finance
CRYPTO

VivoPower Bets Big on XRP Treasury Strategy with Doppler Finance

September 2, 2025
Jack Ma-Linked Yunfeng Financial Makes $44M Bet on Ethereum
CRYPTO

Jack Ma-Linked Yunfeng Financial Makes $44M Bet on Ethereum

September 2, 2025
Bitcoin Holds $110K as Bulls Eye $131K Breakout
BITCOIN

Bitcoin Holds $110K as Bulls Eye $131K Breakout

September 2, 2025
Fed Rate Cut Odds Spike Ahead of Jerome Powell’s September Decision: Here is Why This is Important
CRYPTO

Fed Rate Cut Odds Spike Ahead of Jerome Powell’s September Decision: Here is Why This is Important

September 2, 2025
What is World Liberty Finance and How Does it Work? Should You Buy WLFI in 2025? 
CRYPTO

What is World Liberty Finance and How Does it Work? Should You Buy WLFI in 2025? 

September 2, 2025
Gavin Newsom Teases “Trump Corruption Coin” in Latest Jab at President Trump
CRYPTO

Gavin Newsom Teases “Trump Corruption Coin” in Latest Jab at President Trump

September 2, 2025
Load More

Related News

VivoPower Bets Big on XRP Treasury Strategy with Doppler Finance

VivoPower Bets Big on XRP Treasury Strategy with Doppler Finance

September 2, 2025
Jack Ma-Linked Yunfeng Financial Makes $44M Bet on Ethereum

Jack Ma-Linked Yunfeng Financial Makes $44M Bet on Ethereum

September 2, 2025
Bitcoin Holds $110K as Bulls Eye $131K Breakout

Bitcoin Holds $110K as Bulls Eye $131K Breakout

September 2, 2025
Trump Warns U.S. Could Become “Third World” Without Tariffs, Pushes for Early Supreme Court Ruling

Trump Warns U.S. Could Become “Third World” Without Tariffs, Pushes for Early Supreme Court Ruling

September 2, 2025
Donald Trump Responds to Death Rumors, Dismisses Reports as ‘So Fake’ in Strong Rebuttal

Donald Trump Responds to Death Rumors, Dismisses Reports as ‘So Fake’ in Strong Rebuttal

September 2, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews is your premier source for real-time cryptocurrency, blockchain, political and financial market news.

Stay ahead of the herd with BlockNews

RESOURCES

  • About Us
  • Contact Us
  • Editorial Policies
  • Terms and Conditions
  • Privacy Policy
  • Sitemap

DISCLOSURES AND POLICIES

BlockNews provides independent reporting on crypto, blockchain, and digital finance. Content is for informational purposes only and does not constitute financial advice. Sponsored material is always disclosed. By using this site, you agree to our Terms and Conditions and Privacy Policy.

© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2025 BlockNews