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JPMorgan launched its USD deposit token (JPMD) for institutional clients on Base Layer 2.
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The token enables 24/7 onchain settlement backed by JPMorgan deposits.
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Partners like Coinbase, Mastercard, and B2C2 have completed test transactions.
Deposit Token for Institutional Payments
JPMorgan has officially launched JPM Coin (JPMD), a USD-denominated deposit token, allowing instant institutional settlements on Coinbase’s Base network. The launch follows a successful proof-of-concept completed earlier this year.
Major Institutions Onboard
Financial firms including Coinbase, B2C2, and Mastercard have already tested JPMD transactions. The token is fully regulated and represents real deposits held at JPMorgan, designed to bring bank-grade trust to blockchain payments.
Next Steps: Expansion and Interoperability
The bank has also trademarked JPME, signaling plans for a euro-backed version. Additionally, JPMorgan’s Kinexys arm is working with DBS to build an interoperability layer for transferring tokenized deposits across public and private chains.
