Will the JPMorgan Chase Cryptocurrency have any Value? — Market Mad House

The online rumor mill claims a JPMorgan Chase cryptocurrency is almost here. For instance, Coindesk claims Chase will start testing a JPM Coin with its clients soon.

JPM Coin could be huge because JPMorgan Chase (NYSE: JPM) is America’s bank with $2.737 trillion in total assets on 31 March 2019. Moreover, Chase reportedly moves over $6 trillion in assets every day.

Apparently, Chase will test JPM Coin by moving a percentage of its international exchange business with the altcoin. Coindesk speculates Chase built JPM Coin with Quorom its in-house version of Ethereum.

Is JPM Morgan Chase planning to enter the Remittance Market?

In addition, Chase blockchain lead Umar Farooq wants to use JPM Coin for mobile payments, Coindesk claims. Consequently, Chase could enter remittances through JPM Coin.

To explain, remittances are international money transfers between private individuals. Currently, remittances are big business, the World Bank estimates people sent $689 billion in remittances in 2018 up from $633 billion in 2017.

Moreover, Banco Santander (NYSE: SAN) is demonstrating that you can send remittances to mobile wallets and ATMs via Ripple (XRP). Santander…