During the JP Morgan Chase quarterly earnings call on Friday, CFO Jennifer Piepszak highlighted that the JPM Coin tokenizes customers’ deposits on a private blockchain to make payments easier. She distanced JPM Coin from public blockchain stablecoins, where the OCC recently provided a guidance letter that said banks could host nodes for these stablecoins.
Referring to the OCC guidance, she said, “That doesn’t impact JPM coin.” She was a little reserved in her comments about the JPM Coin. “It’s obviously very early. We will assess use cases and customer demand. But it’s still too early to see where this goes for us,” she said.
Additionally, an analyst asked about Facebook’s Libra, now rebranded to Diem. In his response, CEO Jamie Dimon said he expects central banks will have digital currencies and “it may not change our world that much.”
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