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JPMorgan Launches Tokenized Deposits on Coinbase's Base Blockchain

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JPMorgan has launched tokenized deposits, JPM Coin (JPMD), on Coinbase's Base blockchain, as reported by Coindesk. The move shifts the bank’s token activity from a private to a public blockchain, responding to demand from blockchain-based payment solutions. The deposits act as digital claims on bank funds and may accrue interest. JPMorgan’s Basak Toprak said the product offers investors a bank-backed option for onchain collateral and payments. The rollout aims to attract both institutional and retail investors to the expanding crypto market.
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