By Goldilocks and Seeds of Wisdom JPMorgan Chase & Co. is in the early stages of exploring a blockchain-based digital deposit token for speeding up cross-border payments and settlement, according to a person familiar with the work. Deposit tokens are transferable digital coins that represent a deposit claim against a commercial bank. Essentially, they are a digital version of the deposits that customers hold in their accounts. Because transactions using these coins are processed on blockchain rails, settlement is instantaneous, and proponents of the novel form of money suggest they may make transactions cheaper as well. “Deposit tokens bring plenty of…
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