JP Morgan Gets into Cryptocurrency
The multinational financial services and investment bank announced that it has successfully tested a digital coin representing fiat currency.
JPM Coin is based on blockchain technology and offers instant payment transfers between institutions. The digital coins represent US dollars which are held in designated accounts at JP Morgan Chase.
The new offering looks to help reduce settlement times for transactions and is currently in the prototype stage with testing limited to a select number of its institutional clients.
Airbus Ends the Production of its Superjumbo Jet
The aerospace company announced that it will end the production and delivery of its A380 aircraft in 2021.
The decision comes after the company stated that it has lacked orders with other airlines.
According to a company press release, Emirates Airlines plans to “take delivery of 14 further A380s over the next two years.”
Amazon Cancels its Planned NYC Office
Company Blog Post
The multinational technology company announced that it will no longer move forward with plans to open a headquarters in the Long Island city of Queens.
According to a company blog post, the reason for the decision was due to the lack of support and opposition from a number of state and local politicians.
Amazon stated that it does not intend to look for a replacement location, and will proceed with its other plans to open corporate offices in Northern Virginia and Nashville.