The bank is poised to become the world's largest provider of supply chain finance, at a time when this liquidity option will be a lifeline to many small and midsize businesses.
Some corporations have turned to pricier term loans or new credit lines rather than tapping existing ones, typically to stay in the good graces of lenders as recession looms.
An IPO seems to be on the horizon. It may test investors' appetite for another cash-burning tech business, after Uber's disappointing stock market debut.
The bank believes JPM Coin “can yield significant benefits by reducing clients' counterparty and settlement risk, decreasing capital requirements, and enabling instant value transfer.”