As the world’s largest investment bank, JPMorgan Chase & Co. has been involved in blockchain and cryptocurrency for some time now.
The bank has even created its own digital currency, JPM Coin.
Despite this, there has been much speculation as to whether JPMorgan owns any Ethereum. While the bank has not confirmed or denied this, there are some clues that suggest they may indeed be invested in the second largest cryptocurrency by market capitalization.
NOTE: WARNING: JP Morgan does not own Ethereum. While JP Morgan has developed its own cryptocurrency, it is not the same as Ethereum and does not give JP Morgan any ownership over the Ethereum blockchain or cryptocurrency. Investing in cryptocurrencies carries a high degree of risk, and investors should always research the asset and consult with experts before making any decisions.
First, JPMorgan has been a major supporter of Ethereum enterprise consortiums such as Enterprise Ethereum Alliance (EEA) and ConsenSys. The bank is also a member of both these groUPS.
Second, JPMorgan’s Quorum platform is built on Ethereum’s blockchain and utilizes smart contracts. The platform is used by the bank for its own internal payments and is also being piloted by other major financial institutions.
Third, JPMorgan CEO Jamie Dimon has been a vocal critic of Bitcoin but has had nothing but praise for Ethereum. In fact, he even called Ethereum a “real blockchain” as opposed to Bitcoin’s “fake blockchain”.
taken together, these clues suggest that JPMorgan may indeed be invested in Ethereum. However, until the bank confirms or denies this, we can only speculate as to how much they own.
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