JPMorgan Chase & Co. has taken a significant step towards revolutionizing the financial industry by introducing JPM Coin, a blockchain-based deposit token designed specifically for institutional clients. This innovative move allows for instant, round-the-clock fund transfers and marks a pivotal moment in the bank’s embrace of distributed ledger technology (DLT). The token is backed by dollar deposits held at JPMorgan, offering a solution that operates outside traditional business hours limitations. Transactions will be facilitated on Base, Coinbase’s public blockchain, ensuring faster and continuous settlement without relying on conventional clearing timelines.