JP Morgan launches deposit token JPM Coin for institutional clients to facilitate transfers

AASTOCKS
2025.11.13 00:52

According to a report by Bloomberg, JPMorgan Chase (JPM.US) has launched a deposit token called JPM Coin for institutional clients, allowing for 24-hour transfers via the Ethereum Layer 2 network, which is much faster than the traditional process that takes several business days. This token utilizes the Base network from Coinbase (COIN.US) and is the bank's first native payment product on a public blockchain.

Unlike stablecoins that are privately issued and backed by off-chain reserves, the JPM Coin token represents deposits held within the bank, essentially a blockchain version of commercial bank cash, similar in nature to traditional bank account balances. However, it is currently limited to institutional clients, as regulators are still reviewing issues related to broader usage.

The report indicates that before launching JPM Coin, JPMorgan Chase conducted several months of testing with Mastercard (MA.US), Coinbase, and liquidity provider B2C2

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