According to CoinDesk, JPMorgan Chase has launched a token, JPM Coin, on Coinbase's Base blockchain, marking the first large-scale integration of the Wall Street giant into a public chain. Unlike stablecoins, JPM Coin is a digital replica of interest-bearing bank deposits, with transfer transactions restricted to whitelisted users. This move addresses the demand from institutional clients for banking deposit products on the Chain, which is currently primarily used for collateral and margin payment in crypto trading. JPM emphasizes that their deployment method features complete access control and risk isolation, reflecting the convergence of traditional finance with DeFi.#btc $BTC $BTC

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