JPMorgan begins negotiations to merge its blockchain division with ConsenSys


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JPMorgan begins negotiations to merge its blockchain division with ConsenSys

Financial holding JPMorgan Chase is in talks to merge its blockchain division Quorum with Ethereum development studio ConsenSys.

According to Reuters, although the terms are still being discussed, the deal could be officially announced in the next six months. A source from JPMorgan declined to tell reporters details, but the merger should not affect the Interbank Information Network (IIN) and other blockchain projects of the holding.

It is noteworthy that the Quorum network is based on the Ethereum platform. In addition to IIN and other financial products, it also created the JPM Coin token, intended for instant transfers of funds between organizations..

It is also unknown to join whether the Quorum staff of 25 to ConsenSys after the merger as the development studio announced a restructuring and layoff of 14% of its staff last week.

text: Ivan Malichenko, photo: Getty Images

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