JPMorgan Chase on Thursday announced that it has created and successfully tested a digital coin. Each JPM Coin represents $1 in funds held in designated accounts at JPMorgan Chase N.A. The token was created using Quorum, a variant of Ethereum developed by JPMorgan Chase, to enable instantaneous payment transfers between its clients’ institutional accounts. The JPM Coin and its underlying technology capabilities are currency-agnostic. Over time, the token will be extended to other major currencies and to other platforms.