Merger between banks and cryptocurrencies? – The banking multinational JP Morgan he is a special case among his peers. Do not love bitcoins (BTC) and decentralized cryptocurrencies, the mega-bank has arrived early interested in blockchainsand even announced his own “JPM Coin” since February 2019. Today we learn that the banking giant is preparing to offer its own cryptocurrency wallet.
The “JP Morgan Wallet” available soon?
The gigantic banking octopus that is the JP Morgan to a rather curious behavior towards bitcoins and cryptocurrencies, since it has a double personality between his head and his body. Its managing director, Jamie Dimondeeply hates cryptocurrencies, drug dealing Of Bitcoins ” fraud » since 2017or even recently “Decentralized Ponzi” (September 2022).
On the contrary, its services have used very soon (at least for a bank) one of the main technologies behind cryptocurrencies: blockchain. Back in September 2018, JP Morgan developed its first blockchain-based payment network, called Quorum. Since then, she has become an expert in the field and has designed a new infrastructure based on this technology and called this time Onyx.
Waiting for another Bitcoin attack by Jamie Dimon, his bank continues anyway develop its crypto sector. It is in particular the lawyer Michael Kondoudis, specialized in patent and trademark filings, who relationships via Twitter. The term “JP Morgan wallet” so it just officially became a brand name.
“JP Morgan Wallet is now a registered trademark. (…)”
Will crypto-payments soon be the order of the day among banking giants?
Among the various financial services covered by this JP Morgan Wallet, we therefore find several linked to our dear crypto-assets (these are also the first mentioned):
- providing an electronic transfer of digital currencies;
- financial exchanges of digital currencies;
- cryptocurrency payment processing.
If this request was only approved on November 15, 2022, we will note below that this desire of JP Morgan to have its own crypto wallet it’s nothing new. Why, even though Jamie Dimon was still treating Bitcoin as a “Ponzi” last September, the JP Morgan Wallet registration request dates back to July 2020!
JP Morgan will therefore allow the transfers of what its CEO dares to deal with, no more and no less than pyramid scams. Double personality, we tell you. And, by the way, Jamie Dimon’s hate for cryptocurrency decentralization must have been like that tried early november. Indeed, on this date, the JP Morgan executed the first decentralized finance (DeFi) exchanges. thanks to polygon (MATICS) e Aave (AAVE).
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