Tag Archives: JPMorgan

JPMorgan Takes Another Shot at Bitcoin, Claims Mining Isn’t Worth the Value of the Cryptocurrency

A report by JPMorgan suggests that for over four weeks during the fourth quarter, bitcoin’s market price was lower than its mining costs on average. Continue reading JPMorgan Takes Another Shot at Bitcoin, Claims Mining Isn’t Worth the Value of the Cryptocurrency

Crypto Purchase Ban Hits MasterCard Earnings

Card issuer Mastercard is feeling the sting from a decision by top US banks to ban credit card transactions for cryptocurrencies. Cross-border volume growth is on a downward trend, as evidenced by a 19% increase last month compared to 21% for all of the first quarter, according to the company’s earnings results. Continue reading Crypto Purchase Ban Hits MasterCard Earnings

JPMorgan Tests the Waters for Debt Issuance on a Blockchain

For a bank that has distanced itself from cryptocurrencies, JPMorgan is sure fond of the blockchain.
The biggest US bank based on assets joined forces with the National Bank of Canada, among others, to develop an application based on its Quorum technology for debt issuance on the blockchain (corporate bonds, Treasury bonds, etc.) The test involved the issuance of $150 million of a one-year floating rate Yankee CD alongside a “simulation” of the issuance on the blockchain, according to the announcement. JPMorgan acted as the sole dealer. Continue reading JPMorgan Tests the Waters for Debt Issuance on a Blockchain

JPMorgan Considers Making Blockchain Platform Quorum

JPMorgan Chase is considering making Quorum, its Blockchain and smart contracts platform, into its own company, Bloomberg reported yesterday, March 23. A unnamed source told Bloomberg that no conclusion has yet been reached about whether Quorum would function better as an independent entity, which could potentially attract more partners. The Financial Times adds that other unnamed sources have said that the JPMorgan label attached to Quorum may be steering away potential partners that are also competitors of JPMorgan. Continue reading JPMorgan Considers Making Blockchain Platform Quorum