June 25, 2024

JPMorgan begins negotiations to merge its blockchain division with ConsenSys

JPMorgan begins negotiations to merge its blockchain division with ConsenSys

JPMorgan Chase financial holding is negotiating the merger of its blockchain division Quorum with Ethereum ConsenSys development studio.

According to Reuters, although the conditions are stillare being discussed, but may be officially announced in the next six months. A source from JPMorgan refused to tell reporters the details, but the merger should not affect the Interbank Information Network (IIN) and other holding blockchain projects.

It is noteworthy that the Quorum network operates on the Ethereum platform. In addition to IIN and other financial products, the JPM token was also created on itCoin, designed for instant transfers between organizations.

It is also unknown whether the state will joinQuorum of 25 people to ConsenSys after the merger, as the development studio announced last week it was restructuring and cutting 14% of its staff.

</p>