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JPMorgan's Jamie Dimon: Bitcoin is a 'hyped-up fraud'JPMorgan is based in New York City. Erik McGregor�LightRocket/Getty Images. Innovation is a funny thing. It often arrives with an excess. Onyx is a bank-led blockchain platform building next generation financial ecosystems that enable seamless exchange of value, digital assets and information. JPM Coin is a dollar-backed cryptocurrency (stablecoin) from the bank JP Morgan Chase, announced in February as an institution-to-institution service.