JPMorgan Chase & Co. is preparing to launch a pilot program for a deposit token on a blockchain connected to cryptocurrency exchange Coinbase, signaling a major advancement in the convergence of traditional banking and blockchain technology.
The initiative represents one of the most significant collaborations to date between a Wall Street institution and the cryptocurrency sector, testing the viability of blockchain-based deposit tokens for financial operations.
This strategic move highlights JPMorgan’s continued exploration of blockchain applications beyond wholesale payments, potentially paving the way for broader institutional adoption of tokenized banking solutions.