JPMorgan expands blockchain goals, plans to build ‘interoperable digital money’

JPMorgan is amplifying its commitment to blockchain technology with plans to develop a new form of digital money. Notably, the bank is partnering with Siemens to utilize blockchain in foreign exchange transactions. Through this partnership, JPMorgan aims to scale JPM Coin across privacy-focused and public networks, creating an interoperable digital currency ecosystem. This strategy promises to enhance the speed and security of financial transactions, potentially introducing new liquidity to the market. As demand for digital currency rises, JPMorgan seeks to differentiate itself from competitors and secure new revenue streams, marking a critical development that could influence the cryptocurrency market.