Argentine banks are testing JPMorgan's JPM Coin deposit token for back-end settlement operations, despite the country's central bank maintaining restrictions on crypto services for customers.
Banco CMF participates through its corporate unit QORP in JPMorgan's minimum viable product testing. The bank focuses on integrating services to verify improvements in settlement times and interbank reconciliations.
Transactions occur without moving real funds, using traditional systems for settlement while blockchain records and reconciles operations. Other potential participants include Banco Galicia, BIND and Banco Comafi.
The Banco Central de la República Argentina reviews its crypto service restrictions that remain in effect. JPM Coin became available to institutional clients in November 2025 following deployment on the Coinbase-developed Base network.
Latin America recorded nearly $1.5 trillion in crypto transaction volume from mid-2022 to mid-2025, with Brazil leading regional activity at one-third of total volume.