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

TradingKey
Updated
Mitrade
coverImg
Source: DepositPhotos

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.

goTop
quote
Do you find this article useful?
Related Articles
placeholder
Dogecoin (DOGE) Rockets to $0.20 — Can It Go Even Higher?Dogecoin started a fresh increase above the $0.180 zone against the US Dollar.
Author  NewsBTC
Yesterday 06: 41
Dogecoin started a fresh increase above the $0.180 zone against the US Dollar.
placeholder
Bitcoin's surge to new all-time high sparks $1 billion in short liquidationsBitcoin (BTC) traded above 4% on Thursday after soaring to a new all-time high above $116,800. The rally, which appears to be leverage-driven, triggered over a $1 billion short-squeeze across the entire crypto market.
Author  FXStreet
Yesterday 03: 24
Bitcoin (BTC) traded above 4% on Thursday after soaring to a new all-time high above $116,800. The rally, which appears to be leverage-driven, triggered over a $1 billion short-squeeze across the entire crypto market.
placeholder
Bitcoin crosses $117K as Ether hits $3,000 and XRP surges by 5%Bitcoin is now sitting above $117,000 for the first time in its history, rising more than 60% since its lowest point in April.
Author  Cryptopolitan
Yesterday 01: 39
Bitcoin is now sitting above $117,000 for the first time in its history, rising more than 60% since its lowest point in April.
placeholder
Ethereum Price Forecast: ETH tests $3,000 following strong ETF and treasury inflowsEthereum (ETH) climbed above $2,900 on Thursday, mimicking the rally seen in Bitcoin.
Author  FXStreet
Yesterday 01: 36
Ethereum (ETH) climbed above $2,900 on Thursday, mimicking the rally seen in Bitcoin.
placeholder
Crypto market sees $500 million in liquidation as Bitcoin hit record highs amid dovish Fed minutesThe crypto market continues to trade in the green on Thursday, following the previous day's surge as Bitcoin (BTC) reached a new all-time high of $111,999.
Author  FXStreet
Jul 10, Thu
The crypto market continues to trade in the green on Thursday, following the previous day's surge as Bitcoin (BTC) reached a new all-time high of $111,999.
Real-time Quote