JP Morgan to tokenize euro deposits soon. Sees NFT opportunity

2022/10/18 11:28

JP Morgan already enables tokenized U.S. dollar deposits with JPM Coin. Now it plans to enable blockchain-based Euro deposits ‘soon’ said Basek Toprak, head of Coin Systems at Onyx by JP Morgan.
On another related topic, JP Morgan sees a payment opportunity for NFTs. “The technology today is not friendly enough for mass adoption,” said Brody Mulderig, who covers Fintech at JP Morgan, talking at the Crypto Assets conference.
He stepped through all the hoops some users have to jump through to buy an NFT. If they’re not already involved in crypto, the easy part is transferring money onto a crypto exchange. But then users have to transfer that to a self-custodial wallet, buy hardware to make sure it’s secure, and then buy the NFT. They also must be wary of phishing scams and the risk of losing the seed phrase to their wallet.

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