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The risk-averse approach of major banks threatens the UK's crypto hub ambitions, a new report reveals.
Liam 'Akiba' Wright 2 min read
A top executive at the bank said the institution was eyeing expanding JPM Coin's use to retailers.
The Federal Open Market Committee's September meeting posted some optimistic data, but target inflation remains elusive.
JPMorgan has said the technology has the potential to enhance efficiency by unlocking capital for use as collateral in ongoing transactions.
Robert Zagotta said that the participating banks will be announced in early 2024.
Axos Bank's book of business has included such names as BAM Trading, Prime Trust, InfoWars, and more.
Dimon acknowledged the risk of job displacement, but emphasized that the value and benefits of the technology would outweigh those concerns.
The bank explained that its decision was to safeguard its users funds from frauds and scams.
The asset could be more versatile than the bank's existing JPM Coin, but the idea is said to be in very early stages.
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