CNBC'S HUGH SON: JP MORGAN IS ROLLING OUT THE FIRST U.S. BANK-BACKED CRYPTOCURRENCY TO TRANSFORM PAYMENTS BUSINESS

Morgan's Jamie Dimon has bashed bitcoin as a "fraud," the bank chief and his managers have consistently said blockchain and regulated digital currencies held promise.. The lender moves more than $6 trillion around the world every day for corporations in its massive wholesale payments business. In trials set to start in a few months, a tiny fraction of that will...