Fed Governors Waller, Bowman look to blockchain to update central bank's services: CNBC Crypto World

Market Trends & Regulatory Landscape - Bitcoin stabilized above $113,000 after a slight dip of approximately 033% [2] - Ether rose above $4,200, while XRP dipped to $2.90 [2] - The Genius Act, a stablecoin regulation bill, was signed into law last month, marking a significant step in US crypto regulation [5][8] - The House passed the Clarity Act market structure bill, which now heads to the Senate [5] - Institutions are showing increased interest in digital assets due to growing regulatory clarity [30][31] JP Morgan's Blockchain Initiatives (Kexus) - JP Morgan's blockchain unit, Kexus, focuses on payments, information, and assets, with a 10-year history in the space and 5 years of live payment products [10][11][12] - Kexus launched a deposit token called JPMD, designed as a digital representation of commercial bank money, primarily targeting institutional clients [17][20] - JP Morgan's blockchain deposit account facilitates 24/7 treasury settlement and liquidity movement, such as from Singapore to New York in 2 minutes [18][19] - JP Morgan is exploring the potential of stablecoins, driven by client needs and regulatory developments like the Genius Act [27][28] - JP Morgan aims to provide institutional clients with convenient access to digital asset markets without fragmenting their liquidity [32]