Based on CryptoDnes, JPMorgan Chase has launched a pilot for its JPM Coin deposit token (JPMD) on Coinbase’s public Layer 2 blockchain, Base. The token represents digitized commercial bank deposits denominated in U.S. dollars and is backed directly by JPMorgan’s balance sheet. Transactions settle on Base, enabling near-instant 24/7 transfers. The pilot is available to institutional trading clients and aims to streamline real-time settlements and liquidity transfers. JPMorgan is testing interoperability between private banking systems and open blockchain finance by leveraging Base, a public chain with institutional permissions.
JPMorgan Launches Regulated Deposit Token on Coinbase's Base Blockchain
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