JPMorgan Introduces Blockchain Deposit Token for Institutional Clients

JPMorgan has launched its blockchain deposit token, JPMD, on Coinbase’s Base blockchain for institutional clients, marking a significant step for traditional banking in the public blockchain space. Led by Naveen Mallela, JPMorgan’s Head of Blockchain, the initiative offers an alternative to stablecoins for secure and fast international money transfers. This move signifies a transition toward blockchain settlement within financial institutions.