JPMorgan Launches JPM Coin: Welcome to the Private Currency Era

Today on the Brief:

• Stocks down; bitcoin up
• Consumer confidence shaky as baking supplies demand grows 3,400%
• Bank for International Settlements and Swiss central bank to test CBDC this year

Our main discussion: JPM Coin. 

Initially announced in February 2019, JPMorgan’s JPM Coin is being launched for commercial use. In this episode, NLW looks at:

• The history of private currencies in the U.S.
• Why Libra was a starting gun for both governments and other private corporations
• How JPMorgan intends to make money from JPM Coin
• Why other investment banks might follow