JPMorgan Offers Banking Services to U.S. Based Cryptocurrency Exchanges

The biggest bank in the U.S., JPMorgan Chase, is now reportedly dealing with U.S. crypto exchanges Coinbase and Gemini as customers. On May 12, the Wall Street Journal (WSJ) reported that this is the first time the bank has served clients from the cryptocurrency industry. It was reported that both exchange accounts were accepted last month and the bank has started processing transactions. It is noteworthy that the bank is not processing Bitcoin or other crypto transactions on behalf of the exchanges,…

JP Morgan Says The Banking Sector Isn’t Ready For Blockchain Adoption

America's largest bank now claims that the banking sector isn't ripe for Blockchain adoption. In a recent report, JP Morgan Chase acknowledges that the ongoing blockchain developments are the foundation for the adoption of digital currencies. However, it holds that full adoption will take years. The report also suggests that the bank is looking beyond blockchain technology. According to the report, the foundations for mainstreaming blockchain adoption, expedited payments and digital currencies is already set. It estimates that it will…