JPMorgan's JPM Coin payment system handles $1 billion in daily transactions

JPMorgan moves $1 billion daily through JPM Coin, said the company’s global head of payments, Takis Georgakopoulos.
JPM Coin is a permissioned blockchain-based intra-bank value transfer system.
JPMorgan processes a substantial daily volume through its JPM Coin payment system, revealed Takis Georgakopoulos, the company's global head of payments.

"Today we move $1 billion every day through JPM Coin for a number of large companies," Georgakopoulos told Bloomberg Television earlier today. While this figure represents a small fraction of the $10 trillion in payments that JPMorgan handles daily through its traditional platforms, it is still noteworthy — and demonstrates that JPM Coin has gained significant traction in recent months.

In June, JPMorgan reportedly stated that JPM Coin has processed over $300 billion in transactions since its launch in 2020. At its current daily transaction pace of $1 billion, the bank is on track to achieve that amount within the coming year.

JPM Coin initially supported only U.S. dollars but expanded to include euros in June of this year.