Takis Georgakopoulos, global head of payments at JPMorgan, has revealed that the company processes over $1 billion in daily transactions through its digital asset, JPMorgan Coin.

Speaking during an interview with Bloomberg TV on Oct.26, Georgakopoulos named three major inefficiencies of the current payment systems: the speed of the payments, especially cross-border transactions; the separate movement of money and information, which makes it hard to track or reconcile transactions; and the fungibility of money. JPMorgan is trying to solve these three issues with its digital asset, JPMorgan Coin, the exec said, adding:

“Today, we move $1 billion every day through JPM Coin for a number of… Read more on Cointelegraph