Wall Street Coming Onchain as JPMorgan Launches First Banking Token JPMD on Base

Description

Wall Street banking giant JPMorgan is taking its biggest step yet into public blockchain technology with the launch of its digital deposit token “JPMD” on Coinbase’s Base network. The move follows a June 15 trademark application for “JPMD” and will begin with a pilot phase transferring tokenized U.S. dollar deposits from JPMorgan’s wallet to Coinbase. JPMD is fully backed one-to-one by U.S. dollars and will initially be available to institutional clients only. Pending regulatory greenlight, broa...