What does JPMorgan see in crypto now that it didn’t before?

In 2017, JPMorgan CEO Jamie Dimon said bitcoin was a “fraud.” Five months ago, one of the bank’s managing directors told Quartz that the blockchain technology underlying bitcoin may not make payments faster. But today, JPMorgan said it launched a pilot project that uses blockchain for business-to-business payments, using a token it dubs JPM Coin. CNBC first reported the news.

The biggest US bank by assets says the digital currency will represent one-for-one dollars held in designated...

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