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Sunday, October 22, 2017

Crypto News: JPMorgan Buys Bitcoin-Bullish WePay in ‘Rare’ Fintech Move

JPMorgan Buys Bitcoin-Bullish WePay in ‘Rare’ Fintech Move

Unpredictable global banking giant JPMorgan has bought up payment network WePay in a “rare” fintech acquisition.

The move is aimed at JPMorgan’s four million business customers which it wants to be able to accept payments “faster,” Bloomberg reports.

The bank has made headlines several times over the past month after its CEO Jamie Dimon called Bitcoin a “fraud,” only to U-turn on his comments and “not talk about Bitcoin anymore.” At the same time, senior executive said the company was “open-minded” on cryptocurrency and Blockchain.

WePay has hinted at a markedly different stance, CEO Bill Clerico saying he was “bullish on Bitcoin” as far back as 2014.

Full story at

Source: CoinTelegraph

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