JPMorgan Launches JPM Coin Deposit Token on Coinbase’s Base Network

JPMorgan Expands Its Blockchain Strategy

JPMorgan Chase has launched JPM Coin (JPMD), a new blockchain-based deposit token built on Coinbase’s Base network.

The launch marks a major step forward in JPMorgan’s goal to make payments faster, cheaper, and more secure for institutional clients.

With JPM Coin, large organizations can now settle transactions instantly on a trusted blockchain platform.

Speed, Security, and 24/7 Transfers

According to Bloomberg, JPM Coin represents U.S. dollar deposits held at JPMorgan.

It allows institutions to send and receive money within seconds, even outside of traditional banking hours.

The bank successfully tested the token earlier in the year with Mastercard, Coinbase, and B2C2.

The trial showed how blockchain could lower settlement costs while speeding up international transfers — something traditional systems often struggle to achieve.

Expansion Plans and New Currency Support

Naveen Mallela, the global co-head of JPMorgan’s blockchain division Kinexys, confirmed that the company plans to expand the token’s access to clients’ customers once it gains regulatory approval.

He also revealed plans for a euro-based version, to be called JPME, and said JPMorgan intends to connect JPM Coin to other blockchain networks in the future.

These moves will make cross-border payments even more efficient for global institutions.

JPMorgan’s JPM Coin: A deposit token for institutional clients on Coinbase’s Base network — what it means for the future of payments.

How Deposit Tokens Differ From Stablecoins

Deposit tokens and stablecoins often appear similar but serve very different purposes.

Deposit tokens are issued by regulated banks and are fully backed by real customer deposits.

This makes them more secure and transparent than many stablecoins, which are usually backed by third-party assets or reserves.

In addition, deposit tokens can earn interest, unlike most stablecoins.

That’s why institutional investors see them as a safe, yield-bearing alternative to stablecoins.

“Stablecoins attract attention, but deposit-based tokens combine yield with trust — both vital for institutional users,” Mallela explained.

How Global Banks Are Adopting Blockchain

While many banks have explored blockchain technology, few have reached commercial scale.

JPMorgan is one of the rare institutions to make blockchain work in real-world business settings.

Its Kinexys Digital Payments Network already supports transactions in USD, EUR, and GBP, processing more than $3 billion daily.

This system complements JPMorgan’s larger payments division, which handles about $10 trillion every day.

Earlier this year, JPMorgan partnered with Coinbase to let users fund crypto accounts using credit and debit cards.

Other major banks — including Citigroup, Deutsche Bank, Banco Santander, and PayPal — are also adopting blockchain to make payments faster and more reliable.

A New Era for Institutional Payments

Launching JPM Coin on Base shows how traditional finance and blockchain are beginning to merge.

By blending bank-grade stability with blockchain speed, JPMorgan is setting a new standard for institutional payments.

As more banks adopt deposit tokens, this technology could soon power cross-border settlements, corporate payments, and digital asset transactions around the world.

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