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JPMorgan Expanding Blockchain Project With 220 Banks to Include Payments


Investment banking giant JPMorgan Chase is planning to expand an existing blockchain project to include settlement features as it seeks to fend off competition from payments upstarts such as TransferWise and Ripple.

The blockchain-based Interbank Information Network (IIN), set up in partnership with Australia’s ANZ bank and the Royal Bank of Canada back in 2017, currently allows its over 220 banking members to quickly address payments that contain errors or get held up for compliance reasons – problems that can takes weeks to solve with multiple banks being involved across the payments chain.

Read More at CoinDesk

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