Key Takeaways:
JPMorgan launches JPMD, a permissioned USD deposit token for institutional clients, on Coinbase’s Base blockchain.
JPMD represents real bank deposits—a first on public infrastructure—enabling near-instant, 24/7 institutional payments.
The launch signals Wall Street’s growing embrace of public blockchains, setting the stage for scalable, regulated on-chain banking.
JPMorgan, a colossal financial institution, marks its entry into public crypto rails with a jaw-dropping release; JPMD is a deposit-backed digital coin issued on its Kinexys platform that has gone live on Base, Ethereum Layer 2, which was brought about by Coinbase. Targeting only institutional clients, the token combines traditional banking infrastructure with the real-time functions of blockchain technology.
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