Argentine Banks Test JPMorgan's JPM Coin to Speed Interbank Settlement

JPM Coin is a dollar deposit-backed tokenized payment tool designed by JPMorgan for institutional clients. It uses blockchain to accelerate interbank settlement and reconciliation. Argentina's central bank has continued to restrict banks from offering crypto services to customers since issuing Communication A 7506 in 2022, but it has not prohibited the internal use of blockchain infrastructure.

A report dated April 7, 2026, said Banco CMF had joined JPMorgan's minimum viable product test through its corporate finance division, QORP. Banco Galicia, BIND and Banco Comafi were also reportedly considering taking part. The amount actually transferred in the first phase was $0: transactions were still settled through traditional systems, while the blockchain recorded them in parallel to compare interbank settlement speed and reconciliation efficiency.