JPMorgan begins digital currency test

JPMorgan Chase’s JPM Coin digital currency is now being used commercially for cross-border payments by “a large international technology company”, the US banking giant’s Takis Georgakopoulos has told CNBC.

The development comes as the bank also launches Onyx, a new division to handle its blockchain and digital currency initiatives.

“We are launching Onyx because we believe we are shifting to a period of commercialisation of those technologies, moving from research and development to something that can become a real business,” Georgakopoulos told the news channel.

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