The future of digital finance just took a major leap — and it’s coming from Wall Street itself. JPMorgan Chase has officially launched its blockchain-based deposit token, JPM Coin (JPMD), marking a bold move in how traditional banks are adopting blockchain technology.
With transactions settling in seconds, 24/7, JPM Coin allows institutions to move money instantly and even earn interest on their deposits.
JPMorgan has officially launched JPM Coin, a blockchain-based deposit token designed for institutional clients, marking a major step in the bank’s digital finance journey.
Unlike regular stablecoins, JPM Coin directly represents U.S. dollar deposits held at JPMorgan. This means institutions can transfer real funds instantly, even outside normal banking hours, something traditional systems can’t offer.
The key difference lies in what backs it. While stablecoins depend on reserves and don’t generate yield, deposit tokens like JPM Coin are digital versions of actual bank money, and they can even earn interest.
Additionally, transactions settle in seconds, 24/7, eliminating traditional banking delays and making global transfers faster and more efficient.
What makes this launch even more interesting is the choice of blockchain. JPM Coin will operate on Base, the public blockchain built by Coinbase. This collaboration connects one of the world’s largest banks with one of crypto’s biggest exchanges, a sign of growing cooperation between traditional finance and Web3.
According to JPMorgan’s blockchain co-head Naveen Mallela, the coin allows payments to settle “in seconds, anytime, around the clock.”
Early pilot participants include Mastercard, Coinbase, and B2C2. Additionally, Coinbase will accept JPM Coin as collateral, further integrating the token into the broader crypto ecosystem.
JPMorgan plans to expand JPM Coin to multiple currencies and blockchains, pending regulatory approval. The move comes as global banks like Citigroup, Deutsche Bank, Santander, and PayPal explore similar blockchain payment solutions to speed up settlements and reduce costs.
With new U.S. laws like the Genius Act shaping the stablecoin market, deposit tokens may soon become the preferred choice for institutions looking for compliant, yield-bearing digital assets.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Kraken co-CEO Arjun Sethi has criticized the United Kingdom’s stringent crypto regulations, arguing that the…
After six months of successful beta testing, BeCEXy announces the full launch of its platform.…
The crypto world is buzzing once again, and one name making waves right now is…
MYX Finance just turned heads with a sharp 10.26% single-day price burst and a 21.63%…
Coinbase, one of the world’s biggest crypto exchanges, has taken a major step beyond the…
As the U.S. Treasury begins implementing the GENIUS Act, a landmark bill shaping the future…
