Microsoft’s latest partnership with JP Morgan Chase expands the working relationship between the tech giant and the largest bank in the US, as JP Morgan faces the emergence of cryptocurrencies, blockchain-based banking networks such as Ripple and massive social networks, such as Facebook, that are gearing up to offer financial services by deploying blockchain technology and digital assets.

In addition to providing a platform for Quorum customers to build blockchain networks and applications, Quorum will continue to power JP Morgan and Microsoft blockchain programs. These include first-party apps, such as the Interbank Information Network, JPM Coin and Microsoft’s Xbox royalty payment process.