Home » Tag Archives: JP

Tag Archives: JP

JP Morgan Appoints New Director of Crypto Assets Strategy

According to a Business Insider report on May 17th, JPMorgan Chase, the leading US banking group and financial services company, recently created and filled a new position— the head of Crypto Assets Strategy. Crypto Assets Strategy Oliver Harris, 29, will assume this new role and report to Umar Farooq – head of blockchain development. Harris will also lead JPMorgan’s internal blockchain project, ...

Read More »

Why JP Morgan’s Blockchain Patent Application Is Not That Surprising

JP Morgan once again caused a bit of an upheaval within cryptocurrency circles last week – this time with the publication of their peer-to-peer (P2P) payments network patent application based on distributed ledger technology, like blockchain. Some crypto enthusiasts branded the move as “hypocrisy to the extreme.” The criticism is not unfounded but perhaps not accurate. The bank, and to ...

Read More »

JP Morgan Announces Prototype Blockchain Platform to Streamline Capital Markets Infrastructure

J.P. Morgan Chase & Co presented a prototype of its blockchain platform for capital markets, which aims to cut costs and enable smoother securities transactions. The announcement took place at NY’s Consensus conference Wednesday, the Wall Street Journal reported May 16. Christine Moy, executive director of J.P. Morgan’s Blockchain Center of Excellence, told WSJ that blockchain “has the potential to ...

Read More »

JP Morgan Files Patent For Blockchain-Powered P2P Payments Between Banks

JP Morgan Chase & Co. has outlined a peer-to-peer payments network in a patent application filed with the U.S. Patent and Trademark Office (USPTO) yesterday, May 3. The network would use distributed ledger technology (DLT), such as blockchain, for intra- and inter-bank settlements. The application describes the drawbacks of the conventional bank settlement system currently in place for cross-border payment ...

Read More »

JP Morgan Chase Sued Over High Crypto Purchase Charges

JP Morgan Chase & Co. finds itself in court facing a lawsuit that accuses the bank of usury stemming from a customer that used his credit cards to buy cryptocurrency from exchanges such as Coinbase. Customer Files Federal Law Suit Against Morgan Chase Fortune reports that the suit was filed on Tuesday, April 10 at the federal courthouse in Manhattan ...

Read More »

J.P. Morgan Chase Sued For Charging Crypto Buyers With Surprise Fees

J.P. Morgan Chase & Co, a leading global financial services provider and one of the largest banking institutions in the US, was sued for charging undeclared fees to customers who used their credit cards to purchase cryptocurrency, treating the purchases as cash advances, Reuters reported April 11. The lawsuit was filed on Tuesday in a federal court in Manhattan on ...

Read More »

JP Morgan Chase is Being Sued

You remember Jamie Dimon, right? The JPMorgan Chase (NYSE:JPM) CEO who once called Bitcoin (BTC) a major fraud back in September of last year. Reuters just reported that JP Morgan Chase is being sued for the unauthorized fees added to customer accounts for cryptocurrency purchases. The Manhattan federal court is accusing JPM of implementing charges on cryptocurrency purchases without warning its customers; ...

Read More »

JP Morgan’s Blockchain Quorum Seeking Independence

US banking giant JP Morgan Chase is considering separating its blockchain division as an independent company. The notion being that liberation from the bank could increase the overall appeal of the project. Blockchain Disassociated from Banks According to reports citing ‘sources familiar with the situation’ the open source Quorum blockchain project could be spun off to create distance from its ...

Read More »

HSBC & JP Morgan | Two Major Banks, Two Different Crypto Opinions

HSBC (NYSE:HSBC) is gearing up to use blockchain technology in live transactions. On the other end of the spectrum, JP Morgan (NYSE:JPM) joins the financial institutions labeling cryptocurrencies as a risk to their business. Two major banking institutions with two different reactions to cryptocurrency. HSBC HSBC may be close to launching several different pilot programs that will help the banking ...

Read More »

J.P Morgan Sees Crypto As ‘Competition’ And ‘Risk’ To… | News

J.P. Morgan Chase has added a segment on cryptocurrencies to the “Risk Factor” section of their 2017 annual report to the US Securities and Exchange Commission (SEC), filed yesterday, Feb. 27. The annual report mentions cryptocurrencies under the “Competition” subsection when describing how new competitors have emerged that threaten J.P. Morgan’s operations: “Both financial institutions and their non-banking competitors face ...

Read More »