"A handful of banking institutions would be trialing this token to streamline interbank settlements, taking advantage of the benefits JPM Coin can bring in terms of costs, speed, and efficiency."
"Maximiliano Cohn, CIO of CMF, explained that during the first phase of this pilot, banks are working to integrate available services to verify improvements in the settlement and interbank reconciliation times."
"The objective is to implement DLT (Distributed Ledger Technology) to reduce costs and improve speed and operational efficiency, focusing on improving the internal plumbing of banking institutions."
A group of private banks in Argentina is trialing JPMorgan's JPM Coin to improve interbank settlement processes. The pilot aims to enhance speed and efficiency while reducing costs. Currently, operations are conducted using traditional methods, with on-chain technology for registry. The Central Bank must amend a 2022 rule to allow banks to offer crypto services. Analysts view this integration as a significant modernization step for banking institutions, focusing on improving internal processes and operational efficiency.
Read at news.bitcoin.com
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