🛑 JPMorgan enters the public space: launch of the JPM Coin token on Base
The largest American bank, JPMorgan, has taken a historic step by launching its deposit token, JPM Coin (#JPMD), on the public blockchain Base. Now, the bank's clients can make instant 24/7 transfers through the blockchain.
Key features:
· The token represents dollar deposits of JPMorgan clients
· Already tested by Mastercard, Coinbase, and B2C2
· Plans include a euro version (#JPME) and support for other blockchains
· Tokens can be used as collateral on Coinbase
Especially important is the difference from stablecoins: deposit tokens are real bank deposits on the blockchain that can generate returns. JPMorgan is already processing over $3 billion a day through its blockchain network, Onyx.
When the largest Wall Street bank moves from internal experiments to public blockchains, it is a turning point for the entire industry. Subscribe to keep track of how traditional finance is embracing Web3.
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