JP Morgan Unveils USD-Backed Cryptocurrency for B2B Payments

It announced today it has created a cryptocurrency known as the JPM Coin, a U.S dollar backed stablecoin designed to be used by big business. The JPM Coin is, like many others, a stablecoin which is asset-backed by U.S. dollars. The purpose of the JPM Coin is to allow businesses to make near-instantaneous transactions of value across the internet without having to move fiat money in the background.

Source: decryptmedia.com