Share this article
First Singapore Bank Joins JPMorgan's Blockchain Payments Initiative
JPMorgan's blockchain payments network has just onboarded its first Singapore-based bank, OCBC.
Updated Sep 13, 2021, 11:28 a.m. Published Sep 20, 2019, 10:30 a.m.
JPMorgan's blockchain payments platform has just onboarded its first Singapore-based bank.
With the addition of OCBC – the second-largest bank in Southeast Asia by assets – JPMorgan's Interbank Information Network (IIN) now has around 345 banking members across the globe. Roughly 40 percent of those are from the Asia-Pacific region.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Built on Quorum, a permissioned blockchain based on ethereum and developed in-house by JPMorgan, IIN is designed to enable member banks to "exchange information in real-time as a way to verify that a payment has been approved," according to recent announcement from JPMorgan.
In a report on the news Friday, The Business Times cites John Hunter, global head of clearing for JPMorgan Chase, as saying:
“The intent with IIN was always to develop a meaningful ecosystem of bank users, all focused on harnessing emerging technologies such as blockchain to better address the complex cross border payments industry."
The addition of OCBC comes just days after Deutsche Bank – the world's biggest clearer of euro payments – joined IIN. IIN is aiming to have 400 members by the end of 2019.
OCBC image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
What to know:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
Top Stories
