Pass it forward

New York( CNN Business) JPMorgan Chase, the nation’s largest bank, is launching its own cryptocurrency.

JPMorgan imagines JPM Coin can help lower its clients’ costs and risks, by making money carries instantaneous and by reducing the amount of fund they need to hold onto. JPMorgan moves trillions of dollars around the world every day on behalf of customers.

JPM Coin is designed to be used, at the least first, by major institutional customers , not types, although JPMorgan are expected to roster it out to a broader range of patrons subsequently this year.