Argentina Banks Begin Pilot of JPMorgan's JPM Coin for Interbank Settlements

Several private banks in Argentina are running a limited pilot of JPMorgan's JPM Coin to improve interbank settlement and reconciliation times. The first phase uses traditional settlement rails with on-chain recording, aiming to cut costs and boost speed and operational efficiency. Banks still cannot offer crypto services to clients unless the Central Bank changes its 2022 Communication A 7506 rule.