JPMorgan Chase has launched its JPM Coin deposit token (JPMD) on the Base blockchain, offering a faster and more efficient method of settlement for institutional clients. This move marks an important step in the bank’s expansion into blockchain-based services. 24/7 access to JPMD is now available with near-instant transaction processing capabilities, designed for compliance purposes including KYC. The token’s availability on Base provides a new path for these institutions to process transactions. JPMorgan has successfully tested the JPM Coin deposit token in partnership with prominent financial players like B2C2, Coinbase, and Mastercard. This program concludes with successful test transactions, demonstrating the readiness of JPMD for widespread adoption. JPMorgan is committed to expanding its deposit token offerings across other blockchains, including a potential euro-denominated version (JPME). In addition, they’re partnering with DBS to develop interoperability framework for tokenized deposits, allowing greater flexibility in transferring assets across different blockchain platforms. This initiative demonstrates the sector’s progress towards embracing blockchain technology.