#CryptoCorner: JPMorgan (NYSE: $JPM) to Trial JPM Coin, US Congress Schedules Second Libra (NasdaqGS: $FB) Hearing and Global #Crypto ATMs Pass 5,000 Count
Point Roberts WA, Delta BC, June 25, 2019 - Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.’s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market .
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Stocks discussed: (NYSE:JPM) (NasdaqGS:FB)
Bloomberg Japan reports that investment banking giant JPMorgan Chase (NYSE:JPM) will be trialling its “JPM Coin” digital currency for several unnamed corporate clients. The aim of the digital currency will be to increase the speed of payments between companies and bond transactions. Umar Faruk, the company’s head of digital funding services and blockchain, said:
“The technology is very good but it takes time in terms of licensing and approval. As long as you are a bank, you must make sure that it does not violate the regulations of all countries or regions where you operate.”
The U.S. House Committee on Financial Services announced a July 17 hearing on Facebook’s (NasdaqGS:FB) Libra cryptocurrency project. This hearing will take place a day after a previously announced session with the House Banking Committee titled: Examining Facebook’s Proposed Digital Currency and Data Privacy Considerations.
Reuters reports that Thomas Moser, an alternate member of the Swiss National Bank’s governing board, is untroubled by Libra. At the Crypto Valley Conference in Zug, Moser said:
“I think it’s an interesting development and I’m pretty relaxed about it. They have clearly indicated that they are willing to play according to the rules, they have been contacting the regulators.”
Malta’s prime minister, Joseph Muscat, announced that all rent contracts on the island nation will have to be registered on the blockchain, according to a report from Malta Today. Muscat said:
“We will now be showing people the added value of this technology through applying it to something which they will use in their daily lives. Such a contract cannot be tampered with and only those authorised will be able to access it. This shows how the digital transformation will affect their lives.”
According to the site Coin ATM Radar, there are now over 5,000 cryptocurrency ATMs in the world. The first bitcoin ATM opened in Vancouver, Canada on October 29, 2013, and Canada currently boasts the second-highest amount of crypto kiosks in the world with 680. The U.S. leads with 3,169.
Sam Mowers, Investorideas
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