JPMorgan begins rollout of deposit token JPM Coin on Coinbase’s Base
JPMorgan is rolling out its JPM Coin deposit token on Coinbase's Base network for institutional clients.Summary
JPMorgan Chase has started deploying its blockchain-based deposit token, JPM Coin (ticker: JPMD), on Base, Coinbase's layer 2 Ethereum network. This initiative allows institutional clients to utilize blockchain technology for payment and settlement services, enabling near-instant, 24/7 transactions for dollar deposits held at the bank. The launch follows a successful pilot program involving Mastercard, Coinbase, and B2C2. Furthermore, JPMorgan is planning to introduce a euro-denominated version, trademarked as JPME, pending regulatory approval. This move aligns with a broader trend where major banks, including JPMorgan and DBS, are exploring deposit tokens as a blockchain-based alternative to stablecoins for facilitating cross-bank transactions.
(Source：Crypto Briefing)