As part of the new systеm, a digital deposit token will be utilized. This payment and settlement systеm aims to significantly increase the speed of financial transactions while simultaneously reducing their costs.
The deposit token will represent a digital version of client deposits. It will enable the transfer of funds to other banks or be used for transactions involving tokenized securities.
However, JPMorgan currently faces a challenge – the bank cannot fully complete and implement the systеm without approval from American regulators. According to Bloomberg sources, once such approval is obtained, the systеm could be launched for corporate clients within a year.
