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Bahrain central bank trials JPM Coin
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Rasheed Al Maraj, governor, Central Bank of Bahrain, says: "Through our work with ALBA, Bank ABC and Onyx by JP Morgan, we aspire to address and eliminate the inefficiencies and pain-points which exist today in the traditional cross-border payments arena."JP Morgan created the JPM Coin digital token in 2019 to enable the instant settlement of transactions between the bank's wholesale payments business clients.
Last year, the bank began offering the coin to clients for use commercially.Ali Moosa, senior country officer, JP Morgan Bahrain says: "The completed test with Alba and Bank ABC will help inform further development of JPM Coin Systems for future use by our correspondent banking partners."
. Read more on finextra.comAbout this in other media
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