JP Morgan’s new digital ‘coin’ is not a cryptocurrency, or even a stablecoin

JP Morgan has a new digital asset, JPM Coin. It’s not really a cryptocurrency, and it’s not quite a stablecoin, but it does use a blockchain. It’s mostly referred to as a digital coin. Still, JPM Coin is set to square off against all the other redeemable bank tokens in the market, eventually. Announced today via a flurry of reports, JPM Coin’s drawcards are listed as each token being redeemable for fiat, and that its powered by a “blockchain,” specifically Quorum, a distributed ledger platform developed by JP Morgan and some of its partners. The network powering JPM Coin will be…

This story continues at The Next Web

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