JP Morgan Will Launch an INN Blockchain Network in Japan

According to Bloomberg Japan, in early 2020, JP Morgan will launch INN in Japan. 

Actually, the blockchain network INN today has nearly 300 participants, especially in the United States and Europe.More than 75 local financial institutions are already interested in joining this blockchain interbank network.

 

A number of Japanese banks, including the powerful Mitsubishi UFJ Bank, would be asking for such a solution in order to be able to transfer money internationally more quickly and cheaply.

According to Takis Georgakopoulos, head of payments at JP Morgan, INN now solves some of the problems related to cross-border payments, which previously took between 2 and 15 days, in a matter of hours.

This summer, the U.S. financial holding company announced that the first tests of its cryptocurrency JPM Coin should take place by the end of the year.

Image credit:pixabay

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