JPMorgan Launches Interbank Payments Platform on Quorum Blockchain

JPMorgan Launches Interbank Payments Platform on Quorum Blockchain

Wall Street banking giant JPMorgan Chase is launching a new interbank payments platform powered by blockchain, the firm announced today. With the participation of two other banks – Australia-based ANZ and the Royal Bank of Canada (Australia) – the Interbank Information Network (IIN) will be built on Quorum , the ethereum-based blockchain network first unveiled last fall. Additional institutions are expected to join the initiative in the coming months, with a specific focus on the correspondent banking market. Emma Loftus, head of global payments and foreign exchange for JPMorgan Treasury Services, said in a statement: "IIN will enhance the […]