Share this article
Report: JPMorgan Considers Spinoff of Quorum Blockchain Division
JPMorgan Chase is reportedly considering a proposal to split its Quorum blockchain project into its own independent entity.
By Nikhilesh De
Updated Sep 13, 2021, 7:43 a.m. Published Mar 22, 2018, 11:30 p.m.
Global banking giant JPMorgan Chase is reportedly thinking about spinning out its Quorum blockchain project as an independent company.
Citing anonymous sources, the Financial Times and Reuters reported late Thursday that the move, if it happens, would be part of an effort to "increase the platform's appeal."
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Talks regarding the spinoff are "still in the early days," according to Reuters.
Quorum, an open-source project, was launched in 2016 as a permissioned version of ethereum. JPMorgan debuted the project at the annual Sibos conference.
According to Reuters, a JPMorgan spokesperson declined to "comment on speculation" regarding the supposed move, but said that "Quorum has become an extremely successful enterprise platform even beyond financial services and we’re excited about its potential."
Reuters could not confirm whether Quorum's existing employees would join the spun-off entity. The project has notably been headed up by JPMorgan's Blockchain Center of Excellence executive director Amber Baldet.
It is similarly unclear what Baldet's plans are should Quorum be launched as an independent entity, an anonymous source told Reuters.
The bank's spokesperson told Reuters, "we continue to believe distributed ledger technology will play a transformative role in business which is why we are actively building multiple blockchain solutions."
, the Quorum team announced an interbank payments system in partnership with Australian bank ANZ and the Royal Bank of Canada.
Representatives for JPMorgan Chase did not immediately respond to CoinDesk's request for comment.
JPMorgan Chase image via Lewis Tse Pui Lung / Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Reopens India Signups, Targets Fiat On-Ramp in 2026 After Two-Year Freeze
Coinbase halted services entirely in 2023, off-boarded millions of Indian users and shuttered local access while reassessing regulatory exposure.
What to know:
- Coinbase has resumed onboarding users in India, marking its return to the market after a two-year hiatus due to regulatory issues.
- The exchange is currently allowing crypto-to-crypto trading and plans to reintroduce fiat on-ramps next year.
- Despite regulatory challenges, Coinbase is investing in India, including increasing its stake in local exchange CoinDCX.
Top Stories
