• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
cryptocurrency

Central Bank Of Bahrain Succeeds In JPM Cryptocurrency Payment Trial

Rida Fatima
by Rida Fatima
3 years ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bahrain’s Central Bank has summarized the JPM cryptocurrency test, which enabled Bank ABC to deploy live payment for Aluminium Bahrain (ALBA) token.

Very recently, the Central Bank of Bahrain (CBB) concluded its test for the JPM—JPMorgan’s coin. The JPM coin is a cryptocurrency token created to facilitate payments via blockchain technology.

First Deployment of JPM Cryptocurrency

In an attempt to enhance the customer experience for safe and effective settlement services, the CBB decided to take new steps. Thus, the bank performed a test run of the JPM cryptocurrency to fulfill this. This inter-border test intersects with the United States bank’s blockchain technology.

Related Reading | 25% Of Small Businesses Plan To Begin Offering Crypto Payments, Visa Survey

The test included two other significant firms: the Bank ABC, located in Manama, and Aluminum Bahrain. Aluminum Bahrain is the first Aluminum Smelter in the entire Middle East and is even more famous than the Alba. The trial enables Bank ABC to facilitate live payments to Aluminum Bahrain via the JPM cryptocurrency.

CBB’s Involvement In Payment Trial

The Central Bank of Bahrain supervised the trial project, and its result was observed to be favorable for both parties. Also, the Governor of Bahrain’s Central Bank-Mr. Rasheed Al-Maraj-explained the success of the test. He also informed that the Kingdom would keep using innovative technologies to enhance the local finance distribution.

In his statement, he expressed that, by collaborating with Bank ABC, Alba, JPMorgan’s Onyx, the company hopes to eradicate the ineffectiveness of legacy inter-border transactions.

Vice President Of Bank ABC Responds About Transaction

Also, the Group Executive VP of Bank APC-Mr. Sael Al Waary-observed that is partaking in the project marked an achievement for his company. He’d, before, predicted that cryptocurrencies would play a vital role in changing digital economies in times to come.

CEO of JPMorgan Bahrain Comments On Trial

The CEO of JPMorgan, Ali Mousa, also commented on the project. He’d stated that JPMorgan Bahrain, a subsidiary of JPMorgan Onyx, is focused on spearheading the development of the future generation. This generation in concern is the generation of clearing and settlement substructures.

He’d also expressed that test-running with Bank ABC and Alba will aid in the improvement of the JPM cryptocurrency systems for forthcoming use by banking partners.

JPMorgan’s Cryptocurrency Offerings

Although the company’s CO, Jamie Dimon, is a major cryptocurrency critic globally, the above move isn’t the only crypto-based initiative the company has partaken in.

During the summer of last year, the bank enabled its wealth management customers to participate in six crypto funding. Out of the six, four emanate from Grayscale Investments.

Related Reading | Total Value Locked In Ethereum 2.0 Hits $30 Billion Milestone

These products include Grayscale Bitcoin Trust (GBTC), Grayscale Bitcoin Cash Trust (BCHG), Grayscale Ethereum Trust (ETHE), and Grayscale Ethereum Classic Trust (ETCG). Asides from that, Osprey Bitcoin Trust (OBTC) is included in Osprey Fund.

Featured Image From ABC News
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Rida Fatima

Rida Fatima

Follow

Rida is a Tech freelancer and She’s a technology and cryptocurrency geek but also writes intuitive articles on other topics. Rida's motto is ‘‘Research Deeply, Test Thoroughly, and Write Simply’.’.

Full Profile

Related Posts

Bitcoin

Bitcoin, Ethereum, And Dogecoin Suffer Beatdown, But These Factors Say Get Ready For A Bounce

14 hours ago
Bitcoin could reach $200,000 following Powell’s replacement

Mike Novogratz Sees Bitcoin at $200,000 Following Powell’s Replacement, as Bitcoin Hyper Soars

21 hours ago
Best Altcoins to Buy After Vanguard’s Big Crypto ETF Shift

Best Altcoins to Buy After Vanguard’s Big Crypto ETF Shift

22 hours ago
Kraken

Kraken Secures $500 Million In Latest Funding Round, Boosting Valuation To $15B

1 day ago
Best Crypto Presales to Buy as SWIFT Tests Blockchain Payments with Ethereum Linea

Best Crypto Presales to Buy as SWIFT Tests Blockchain Payments with Ethereum Linea

1 day ago
Vanguard

$10 Trillion Asset Manager Vanguard Prepares To Offer Access To Crypto ETFs For The First Time

1 day ago
Please login to join discussion

Premium Sponsors

Press Releases

  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    2 days ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    4 days ago
  • Bitcoin Hyper

    ChatGPT предсказва следващата 1000x...

    5 days ago
  • Snorter надхвърли $4 милиона след...

    6 days ago
  • Experience the Next Chapter of Pickleball with the $PKL Token Presale.

    Experience the Next Chapter of Pickleball with the $PKL...

    1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.