Argentine Banks Begin Piloting Jpmorgan'S Jpm Coin For Interbank Settlements

A group of Argentine banks has started testing @jpmorgan's JPM Coin deposit token to improve interbank settlement times. Banco CMF is a confirmed participant, with Banco Galicia, BIND and Banco Comafi reportedly considering joining the program.

The first phase runs without real funds. Transactions settle through traditional systems while blockchain handles the registry and reconciliation layer. CMF's CIO told local outlet iProUP the goal is verifying improvements in settlement speed between participating institutions.

The pilot comes as Argentina's central bank reviews a 2022 rule that banned banks from offering crypto services to clients. That restriction does not prevent internal use of blockchain infrastructure, clearing the way for institutional testing while retail-facing crypto banking remains off limits.