JPMorgan Chase With It’s JPM ShitCoin Wants To Take On Bitcoin (#GotBitcoin?)
Payments is an extremely buzzy corner of the financial sector right now, and JPMorgan Chase wants to dominate it, Credit Suisse analyst Susan Roth Katzke told clients Friday following a meeting with the bank’s management. JPMorgan Chase With It’s JPM ShitCoin Wants To Take On Bitcoin (#GotBitcoin?)
The back story. JPMorgan stock (ticker: JPM) is up almost 14% so far this year, just behind the S&P 500 index’s gain of 14.4%. The bank is the largest is the U.S. by assets and is looking to use that position to build a bigger, more profitable payments unit.
In January, it combined the formerly separate business units that handled consumer-to-merchant payments and corporate transactions into a new wholesale-payments operation.
In February, the bank rolled out a prototype of a digital coin that will be tested out in transactions with institutional clients.
What’s new. Roth Katzke met with Takis Georgakopoulos, the global head of that new wholesale-payments group, and concluded that the bank’s “management has made it a strategic priority to dominate all aspects, both consumer and corporate.”
Payments, she said, is a business where scale is very important, noting that JPMorgan is making progress on that front with its integration of internal platforms—a process that is now more than halfway done. Additionally, she points out that business lines like Treasury Services are a fragmented market and that the bank can gain from consolidation.
Looking ahead. With revenue growth of between 4% and 5% and a high return on equity, Roth Katze says, JPMorgan’s wholesale payments business is “both strategically important and financially sound.”
Bitcoin Information & Resources (#GotBitcoin?)
Bitcoin To Be Exposed To Millions With Upcoming “60 Minutes” Segment (#GotBitcoin?)
Grayscale To Investors: Drop Gold (#GotBitcoin?)
‘Craig Is A Liar’ – Early Adopter Proves Ownership Of Bitcoin Address Claimed By Craig Wright (#GotBitcoin?)
Tether Ordered To Freeze Transfers To Bitfinex By New York Supreme Court, Bitcoin Flash Crashes
HTC Smartphone Will Run A Full Bitcoin Node (#GotBitcoin?)
Send Bitcoin Transactions Without Internet Connection
Bitcoin’s Lightning Comes To Apple Smartwatches With New App (#GotBitcoin?)
E-Trade To Offer Crypto Trading (#GotBitcoin)
US Rapper Lil Pump Starts Accepting Bitcoin Via Lightning Network On Merchandise Store (#GotBitcoin?)
Bitfinex Used Tether Reserves To Mask Missing $850 Million, Probe Finds (#GotBitcoin?)
21-Year-Old Jailed For 10 Years After Stealing $7.5M In Crypto By Hacking Cell Phones (#GotBitcoin?)
You Can Now Shop With Bitcoin On Amazon Using Lightning (#GotBitcoin?)
Afghanistan, Tunisia To Issue Sovereign Bonds In Bitcoin, Bright Future Ahead (#GotBitcoin?)
Crypto Faithful Say Blockchain Can Remake Securities Market Machinery (#GotBitcoin?)
Disney In Talks To Acquire The Owner Of Crypto Exchanges Bitstamp And Korbit (#GotBitcoin?)
Crypto Exchange Gemini Rolls Out Native Wallet Support For SegWit Bitcoin Addresses (#GotBitcoin?)
Binance Delists Bitcoin SV, CEO Calls Craig Wright A ‘Fraud’ (#GotBitcoin?)
Bitcoin Outperforms Nasdaq 100, S&P 500, Grows Whopping 37% In 2019 (#GotBitcoin?)
Bitcoin Passes A Milestone 400 Million Transactions (#GotBitcoin?)
Future Returns: Why Investors May Want To Consider Bitcoin Now (#GotBitcoin?)
Next Bitcoin Core Release To Finally Connect Hardware Wallets To Full Nodes (#GotBitcoin?)
Major Crypto-Currency Exchanges Use Lloyd’s Of London, A Registered Insurance Broker (#GotBitcoin?)
How Bitcoin Can Prevent Fraud And Chargebacks (#GotBitcoin?)
Why Bitcoin’s Price Suddenly Surged Back $5K (#GotBitcoin?)
Zebpay Becomes First Exchange To Add Lightning Payments For All Users (#GotBitcoin?)
Coinbase’s New Customer Incentive: Interest Payments, With A Crypto Twist (#GotBitcoin?)
The Best Bitcoin Debit (Cashback) Cards Of 2019 (#GotBitcoin?)
Real Estate Brokerages Now Accepting Bitcoin (#GotBitcoin?)
Ernst & Young Introduces Tax Tool For Reporting Cryptocurrencies (#GotBitcoin?)
Recession Is Looming, or Not. Here’s How To Know (#GotBitcoin?)
How Will Bitcoin Behave During A Recession? (#GotBitcoin?)
Many U.S. Financial Officers Think a Recession Will Hit Next Year (#GotBitcoin?)
Definite Signs of An Imminent Recession (#GotBitcoin?)
What A Recession Could Mean for Women’s Unemployment (#GotBitcoin?)
Investors Run Out of Options As Bitcoin, Stocks, Bonds, Oil Cave To Recession Fears (#GotBitcoin?)
Goldman Is Looking To Reduce “Marcus” Lending Goal On Credit (Recession) Caution (#GotBitcoin?)
Our Facebook Page
Your Questions And Comments Are Greatly Appreciated.
Monty H. & Carolyn A.