Major Swiss bank to offer cryptocurrency services

Summary:

  • Jamie Dimon suggests that JPM Coin “could one day be consumer”
  • Julius Baer to provide cryptocurrency services for its clients
  • Ripple trades quite flat after days of intense price moves

The cryptocurrency market has begun Wednesday’s trading quite calm as major cryptocurrencies have been moving rather flat so far. According to CoinMarketCap, the capitalization of the whole cryptocurrency market stands around the $131 billion handle whereas the largest virtual currency Bitcoin accounts for roughly 51.9% of this value.

Bitcoin (BITCOIN on xStation5) slightly dropped yesterday, but it was moving quite flat during Tuesday’s trading. Wednesday has not also brought any major price movements for the largest cryptocurrency so far. Source: xStation5

CEO of JPMorgan suggests the company’s coin “could one day be consumer”

Jamie Dimon, who is the CEO of JPMorgan, participated in a questions-and-answers session during the company’s annual investor day. What’s interesting, Dimon said that JPMCoin (the planned bank’s token) “could be internal, could be commercial, it could one day be consumer”, as CNBC reports. However, the Dimon’s remarks were rather only speculations as the company informs on its website that JPMCoin will not be offered for individual clients. Let us remind that JPMorgan unveiled its plans about a new token some time ago becoming the first US major bank planning such a step. The JPMCoin’s aim is to settle transactions related to the wholesale business payments of its clients.

The upcoming Ethereum (ETHEREUM on xStation5) hard fork called Constantinople is planned at 7,280,000,000 block. This means that it could probably take a place in the nearest hours or days. Source: xStation5

Major Swiss bank to offer crypto services

Major Swiss bank Julius Baer has teamed up with SEBA Crypto AG, which is the crypto-focused Swiss bank, “to provide its clients with access to a range of new digital asset services”, according to the bank’s post published yesterday on its Twitter profile. As a result, the large Swiss bank has become another major financial institution which wants to enter into the cryptocurrency market. Let us recall that such entities as Nasdaq and Fidelity have announced their plans related to cryptos in recent months. As we could see, some major financial companies do not seem to be discouraged to cryptos despite huge falls of cryptocurrency prices seen in the previous months.

Wednesday’s trading has been also rather calm for Ripple (RIPPLE on xStation5) as it has settled down after heightened volatility. The cryptocurrency is trading a little below the $0.315 handle at press time. Source: xStation5

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