{"id":167358,"date":"2022-11-25T17:26:20","date_gmt":"2022-11-25T17:26:20","guid":{"rendered":"https:\/\/precoinnews.com\/?p=167358"},"modified":"2022-11-25T17:26:20","modified_gmt":"2022-11-25T17:26:20","slug":"jp-morgan-makes-historical-move-with-new-crypto-wallet","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/jp-morgan-makes-historical-move-with-new-crypto-wallet\/","title":{"rendered":"JP Morgan Makes Historical Move with New Crypto Wallet"},"content":{"rendered":"

By Marcus Sotiriou, Analyst<\/em>\u00a0at the\u00a0publicly listed digital asset broker\u00a0<\/em>GlobalBlock<\/em> (TSXV:BLOK).\u00a0<\/em><\/p>\n

Bitcoin and crypto markets bounced back for a while on wednesday following the continuation of a relief rally in the S&P 500. As investors lose trust in exchanges and trading platforms which are not transparent, 137,000 Bitcoins have been removed from exchanges in the past 30 days.<\/p>\n

Retail investors are accumulating at a rapid pace, as the Bitcoin supply held by on-chain entities between the size of 0.1-1 BTC is spiking.<\/p>\n

Whilst the stability of the crypto ecosystem remains in question, JP Morgan continues to make moves toward integrating crypto products. JP Morgan has registered a JP Morgan Wallet with the United States Patent and Trademark Office (USPTO) to use in a wide range of financial services, including cryptocurrency transfers and crypto payment services.<\/p>\n

The terms used to describe the services that are enabled with this registration are \u201celectronic transfer of virtual currencies,\u201d \u201cfinancial exchange of virtual currencies,\u201d and \u201ccryptocurrency payment processing,\u201d shown by the USPTO website.<\/p>\n

JP Morgan described the wallet as:<\/p>\n

\u201cReal-time virtual sub-ledgers that help manage and scale any number of customer, supplier and vendor payments in an organized, easy-to-reconcile way.\u201d<\/p>\n

JP Morgan intends to \u201chelp simplify domestic and cross-border receivables and disbursements\u201d with the implementation of this wallet, and also develop \u201csophisticated payments solutions like connected mobility solutions and blockchain platforms that can help you say more to the world.\u201d<\/p>\n

Furthermore, Singapore\u2019s largest bank, DBS, completed an intraday repo trade on JP Morgan’s Onyx (JP Morgan\u2019s own blockchain ecosystem). Usually, repo trades take two days to settle, however by using blockchain technology these transactions can settle in just a few hours.<\/p>\n

This proves the potential for blockchain technology to disrupt the $4 trillion repo market and revolutionise the financial services industry.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By Marcus Sotiriou, Analyst\u00a0at the\u00a0publicly listed digital<\/p>\n","protected":false},"author":3,"featured_media":167357,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nJP Morgan Makes Historical Move with New Crypto Wallet - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/jp-morgan-makes-historical-move-with-new-crypto-wallet\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JP Morgan Makes Historical Move with New Crypto Wallet - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"By Marcus Sotiriou, Analyst\u00a0at the\u00a0publicly listed digital\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/jp-morgan-makes-historical-move-with-new-crypto-wallet\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-25T17:26:20+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2022\/11\/JP-Morgan-Makes-Historical-Move-with-New-Crypto-Wallet.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/jp-morgan-makes-historical-move-with-new-crypto-wallet\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/jp-morgan-makes-historical-move-with-new-crypto-wallet\/\",\"name\":\"JP Morgan Makes Historical Move with New Crypto Wallet - 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