Citing Criptonoticias, JP Morgan has launched its institutional deposit token, JPM Coin (JPMD), on the Base network developed by Coinbase, with Mastercard participating in its development. The token represents digital deposits backed by U.S. dollars and enables near-instant 24/7 fund transfers, contrasting with traditional banking processing times. JP Morgan plans to add other currency denominations and expand to other networks, pending regulatory approval. The bank previously tested JPM Coin in June, and the move aligns with a more favorable regulatory environment in the U.S., including the Genius Act aimed at regulating stablecoins.
JP Morgan Launches JPM Coin on Base Network with Coinbase and Mastercard
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