JP Morgan touts bank-issued deposit tokens
Deposit tokens are transferable tokens issued on a blockchain by a licensed depository institution which evidence a deposit claim against the issuer.Because the tokens are commercial bank money embodied in a new technical form, they sit comfortably as part of the banking ecosystem, subject to the regulation and supervision applicable to commercial banks today, say the authors.In their token form, commercial bank deposits can bring a number of technical advantages to payments and transaction settlement including programmability, 24/7 transferability, as well as faster and more direct fund flows between counterparties. Basak Toprak, global product head, digital tokens, Onyx by JP Morgan, says: “The digital money landscape is still emerging and various types of digital money will compete to serve different use-cases.
Read more on finextra.com
![Has DOJ’s Bitcoin [BTC] movement caused panic among holders?](https://fvbb.com/storage/thumbs_400/img/2023/3/10/58555_ryhm.jpg)
