Institutional

JPMorgan flashes blockchain service and JPM Coin updates at annual Investor Day

Quick Take

  • JPM’s IIN now has over 185 banks with submitted letters of intent to use its blockchain-based info service, up ~150 percent since September

  • JPM Coin will initially facilitate value transfer in USD, but plans to extend to other major currencies; CEO Jamie Dimon suggested JPM Coin could one day be consumer-facing

JPMorgan hosted its annual investor day Tuesday, discussing annual results and setting expectations for 2019 and beyond. One of many themes that surfaced was the need to “prepare for the transformation coming in the future,” with Co-Chief Operating Officer Daniel Pinto rhetorically asking:

“How do we take advantage and invest in new technologies to future-proof our infrastructure and really create more and more operational efficiencies to do a lot more with the money that we invest today?