JP Morgan Chase uses blockchain in cross-bank payments

Interbank Information Network (IIN) based on Quorum blockchain will help JP Morgan Chase to perform cross-bank payments
17 October 2017   1429

American financial holding JP Morgan Chase announced the launch of Interbank Information Network (IIN) based on Quorum blockchain. The solutionwill reduce delays in payments between banks. This is reported by the Reuters.

Representatives of JP Morgan Chase positively assess the prospects for implementing distributed registry technology in their activities.

IIN will enhance the client experience, decreasing the amount of time – from weeks to hours – and costs associated with resolving payment delays. Blockchain capabilities have allowed us to rethink how critical information can be sourced and exchanged between global banks.
 

Emma Loftus
Head, Global Payments and FX, J.P. Morgan Treasury Services

The project was launched in partnership with the Australian bank ANZ and Royal Bank of Canada. It is expected that later other financial institutions will join it.

Within the treasury service JP Morgan processes trillions of US dollars transactions daily.

OKEx Exchange to Launch GBP and THB OTC Markets

Thai and UK users should to pass the KYC procedure to start using Over-The-Counter platform
24 January 2019   28

OKEx announced support for the British pound and Thai baht on its over-the-counter platform.

The press release notes that users from Thailand and the UK can go through KYC verification procedures and start using the OTC platform.

Orders can be placed on the over-the-counter platform OKEx by independently choosing the exchange rate and payment options. Currently, this OTC-platform contains Bitcoin, Ether, Litecoin and Tether cryptocurrencies.

In addition to the pound and baht, the platform supports the Vietnamese dong and the Chinese yuan. This year, OKEx promises to expand the list of supported fiat currencies and serviced regions.

Earlier, OKEx launched termless Bitcoin swaps, and then similar tools for Ethereum, Bitcoin Cash, Ethereum Classic and Litecoin.