JPMorgan Launches JPM Coin on Public Blockchain, Enabling 24/7 Institutional Transfers
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JPMorgan Chase has launched its JPM Coin, a blockchain-based token representing dollar deposits, for institutional transfers. The bank will use Coinbase’s Base public blockchain to process payments in seconds, 24 hours a day.
The move, confirmed by blockchain division lead Naveen Mallela, is part of JPMorgan’s broader strategy to incorporate digital assets into its core banking services.
Following successful tests with firms like Mastercard and Coinbase, the bank plans to expand the token to other blockchains. Coinbase will also accept JPM Coin as collateral for its market operations.
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