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MarketScreener Homepage  >  Equities  >  Nyse  >  JPMorgan Chase & Co.    JPM

JPMORGAN CHASE & CO.

(JPM)
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JPMorgan Chase : begins digital currency test

10/29/2020 | 11:46am EST

JP Morgan Chase has begun commercially testing its digital currency, JPM Coin, for use in cross-border payments by a large technology client. In beginning the testing phase, JPMorgan also decided to create a new business to house its blockchain and digital currency efforts called Onyx, according to a report by CNBC.

"We are launching Onyx because we believe we are shifting to a period of commercialization of those technologies, moving from research and development to something that can become a real business," Takis Georgakopoulos, Global Head of Wholesale Payments, JPMorgan Chase told the news outlet.

Blockchain has attracted billions of investment dollars but has not produced a lot in the way of results yet. JPMorgan's move could encourage greater interest in digital currencies. Cryptocurrencies enjoyed a great deal of attention lately when PayPal announced that users could soon buy, hold and sell crypto directly from their PayPal accounts.

JPMorgan is focused for now on relieving pain points in the world of wholesale payments, especially in cross-border payments. The goal would be to have banks confirm payments have the proper account information and regulatory format before they are sent, preventing expensive rejections.

Copyright © 2020 Networld Media. All rights reserved., source Industry News

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Financials (USD)
Sales 2020 118 B - -
Net income 2020 22 945 M - -
Net Debt 2020 - - -
P/E ratio 2020 15,9x
Yield 2020 3,06%
Capitalization 359 B 359 B -
Capi. / Sales 2020 3,04x
Capi. / Sales 2021 3,21x
Nbr of Employees 256 358
Free-Float 73,6%
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Technical analysis trends JPMORGAN CHASE & CO.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 119,81 $
Last Close Price 117,88 $
Spread / Highest target 22,2%
Spread / Average Target 1,64%
Spread / Lowest Target -32,1%
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Managers
NameTitle
James Dimon Chairman & Chief Executive Officer
Gordon A. Smith Co-President & Co-Chief Operating Officer
Daniel E. Pinto Co-President & Co-Chief Operating Officer
Jennifer A. Piepszak Chief Financial Officer
Lori A. Beer Chief Information Officer
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