JPMorgan Tests USD Deposit Tokens on Base to Fuel Institutional On-Chain Payments

JPMorgan Chase is piloting a new digital asset token called JPMD on the Base Layer 2 blockchain, offering an alternative for institutional clients seeking faster and more secure on-chain payments. This project marks the bank’s first foray into public blockchains and seeks to bridge the gap between traditional banking regulations and innovative blockchain technology. JPMD, a permissioned USD deposit token backed by JPMorgan’s balance sheet, offers on-chain payment solutions with features like real-time liquidity, 24/7 settlement, and potential interest earning.