JP Morgan launches bank-backed cryptocurrency

While 2018's cryptocurrency boom may be over, US investment bank JP Morgan has launched its own digital coin to help settle payments between its clients as part of its wholesale payments business.JPM Coin, the first digital currency backed by a major US bank, runs on blockchain technology and has already successfully been used to move funds between the bank and a client's account.JP Morgan plans to use digital coins to help reduce risk and enable instant transfers for its customers despite the f