Argentine Banks Test JPM Coin as Central Bank Reviews Crypto Ban: Report
Cointelegraph
Argentine banks are piloting JPMorgan's JPM Coin for settlement, despite a central bank crypto ban.Summary
Several Argentine banks, including Banco CMF, are testing JPMorgan's JPM Coin infrastructure for internal settlement processes. This initiative allows banks to explore improvements in settlement times and interbank reconciliations without using real funds, with blockchain technology used for recording operations. The testing occurs while Argentina's central bank reviews a ban on crypto services for clients, though internal use of blockchain is permitted. Other banks like Banco Galicia, BIND, and Banco Comafi are reportedly considering joining the program. This development coincides with Latin America's significant growth in crypto adoption, with Argentina being a key market.
(Source：Cointelegraph)