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Citibank Had Planned Cryptocurrency Like JPM Coin And Gave Up Finally

Liang CHE

Summary: JPMorgan recently developed a bank-backed cryptocurrency program, but another large institution, Citibank, first tested cross-border payments with tokens in 2015. The project, code-named "Citicoin" at Citibank's Innovation Lab in Dublin, has never been officially announced by banks, even if it is only used as a concept note, the idea of the project is to simplify ...

JPMorgan recently developed a bank-backed cryptocurrency program, but another large institution, Citibank, first tested cross-border payments with tokens in 2015. The project, code-named "Citicoin" at Citibank's Innovation Lab in Dublin, has never been officially announced by banks, even if it is only used as a concept note, the idea of the project is to simplify the cross-border payment process. Therefore, it has obvious similarities with the highly touted JPM Coin.

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