Pi Network - auto mobile mining: Join now and be one of the pioneers!!

Blog

JPMorgan Chase has announced it is planning on releasing an e-wallet for e-commerce and the ‘gig economy.’ Could this e-bank be a testing ground for future cryptocurrency-related experiments?

One of the largest Wall Street banks in the world will be releasing an ‘e-wallet’ soon.

JPMorgan to Release ‘E-Wallet’

JPMorgan Chase has just announced its intention to better integrate its service into the digital commerce world, and it is creating an easily accessible e-wallet to make this happen.

The e-wallet will be attractive to those involved in the gig economy and e-commerce since payment processing fees will be negligible. The payments sector made up around a tenth of the company’s $109B in revenue last year. JPMorgan Chase is betting that payment networks will continue to make up a greater portion of its revenue in the coming years.

According to JPMorgan Chase, the bank is targetting the ’10 biggest e-commerce and gig economy players.’ According to Takis Georgakopoulos, wholesale payments chief at the bank, “We’re talking to all of them. We want the whole industry to use it.”

JPMorgan

JPMorgan

A Testing Ground for Cryptocurrencies?

As you already probably know, JPMorgan Chase released its first cryptocurrency, JPM Coin, earlier this year. As BeInCrypto reported in February, JPM Coin is the first cryptocurrency ever issued by a major bank and will be a stablecoin—each JPM Coin is worth a dollar.

As of now, JPM Morgan is mainly interested in leveraging the idea for international payments. However, the eventual plan is to also make it readily accessible to retail customers.

So, could this new e-wallet be evidence that the bank is finally breaking into the payments sector for everyday consumers? Given the bank’s newfound focus on the ‘gig’ economy, it seems likely but we can only speculate. Despite its CEO, Jamie Dimon, having a reputation for being relatively hostile to Bitcoin, his bank has nonetheless been at the forefront of implementing blockchain technology.

So, it’s possible that JPMorgan’s new e-wallet could be just the first step towards payment channels intended for every day, retail users—if so, we can definitely expect cryptocurrencies and JPM Coin to be a piece of the puzzle going forward.


Images courtesy of Shutterstock.


Did you know you can trade sign-up to trade Bitcoin and many leading altcoins with a multiplier of up to 100x on a safe and secure exchange with the lowest fees — with only an email address? Well, now you do! Click here to get started on StormGain!

No Comments

Be the first to start a conversation

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Categories

Pi Network - auto mobile mining

Become one of the pioneers!!

Random Posts

DOWNLOAD MY EBOOK FOR FREE

"Your Headline Here How I Made $4947 In 1 Month"

Lorem pretium lorem orci elit nunc imperdiet nec vel sit pretium hendrerit amet nec orci gravida gravida sapien purus massa

Quick Bio About Me

mypicmeLorem proin accumsan accumsan volutpat ut nullam odio eleifend libero quisque ipsum gravida eleifend dolor nunc sagittis venenatis orci eleifend lorem quisque venenatis non sagittis sagittis ipsum nunc.

lacus eleifend pretium eros sed consectetur venenatis praesent sapien consectetur dolor nullam laoreet orci mauris ornare congue lacinia auctor lorem quis quis lacus eleifend pretium eros sed consectetur venenatis praesent sapien consectetur dolor nullam laoreet orci mauris

Resources

  • Resource 1

    Lorem sed praesent quisque auctor libero eros lorem nec praesent accumsan ornare venenatis nullam.

  • Resource 2

    Lorem sed praesent quisque auctor libero eros lorem nec praesent accumsan ornare venenatis nullam.

Random Blog Posts

© 2020 Cryptoracle.info - Crypto News