JPMorgan’s Bold Move! New JPMD Token Set to Launch on Base Network

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TradingKey – JPMorgan Chase is accelerating asset tokenization, preparing to launch its JPMD deposit token on Coinbase’s Base blockchain.

According to Bloomberg (June 18), JPMorgan (JPM) plans to issue JPMD, a new type of token, on Base, the blockchain network developed by Coinbase (COIN).

In an interview, Naveen Mallela, JPMorgan’s Global Co-Head of Blockchain, stated, “A transaction will take place in the coming days, transferring a fixed amount of JPMD from the bank’s digital wallet to Coinbase Global Inc., the largest U.S. crypto exchange.”

JPMD represents tokenized real-world assets, specifically deposit tokenization, distinguishing it from JPM Coin, JPMorgan’s USD-backed stablecoin launched in 2019.  

- JPMD = Deposit Tokenization (linked to bank deposits)  

- JPM Coin = USD Tokenization (a blockchain-based dollar asset)  

From a user perspective, JPMD functions as a deposit certificate — customers deposit funds at JPMorgan and receive JPMD tokens in return. In contrast, JPM Coin requires users to purchase tokens to hold on-chain USD assets.

JPMorgan’s move aligns with the crypto industry’s long-standing vision: “Everything can be tokenized.” The bank is actively accelerating asset tokenization, engaging in discussions with the SEC’s crypto task force while continuously issuing new tokens.

* The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

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