JPMorgan Launches JPMD for Institutional Use with 24/7 Settlements
JPMorgan revealed it began testing the deposit token in June, running pilot transactions on Base to ensure smooth performance and security. After proving its reliability, Kinexys announced that the system is now open for institutional use, offering 24/7 near-instant settlements.
In its statement, JPMorgan confirmed that industry leaders such as B2C2, Coinbase, and Mastercard participated in the pilot program. Their involvement shows how traditional finance and blockchain technology are starting to work together in real, practical ways.
JPMorgan Brings Bank Deposits to the Blockchain
At its core, JPMD is a digital representation of JPMorgan’s existing bank deposits, now brought onchain. This means that each token corresponds directly to a deposit held within JPMorgan’s regulated banking system.
Unlike traditional stablecoins issued by fintech firms or crypto-native companies, JPMD operates within the boundaries of regulated banking and KYC frameworks.
This structure provides institutions with the speed and transparency of blockchain transactions. It also maintains the security and compliance expected from one of the world’s largest banks.
With JPMD, payments can move across a public blockchain in seconds instead of taking hours or days. This gives companies faster access to funds and better control over cash flow, without stepping outside traditional banking protections.
JPMorgan’s plans go further than just a dollar-pegged token. According to a report from Bloomberg, the bank plans to expand its deposit token offering to additional blockchains and currencies.
Like JPMD, the bank has registered a new trademark, JPME, which hints at a forthcoming euro-denominated deposit token in the future. This shows that JPMorgan aims to create a multi-currency tokenized deposit ecosystem for institutional finance.
Banks Unite to Bridge Traditional Finance and Blockchain Networks
In parallel with this new token rollout, DBS Bank and Kinexys are developing a system that will let these deposit tokens move between public and private blockchains.
This interoperability framework will connect different types of blockchain networks. This would allow institutions to transfer assets securely and efficiently, no matter which network they use.
This collaboration shows that major banks are not just experimenting with blockchain, they are actively shaping how it fits into global finance.
Meanwhile, JPMorgan is not the only bank moving in this direction. BNY Mellon has been exploring ways to use tokenized deposits for blockchain-based payments.
In the United Kingdom, Barclays, Lloyds, and HSBC are running a pilot to test digital versions of sterling deposits. These projects all point toward the same goal, which is to make traditional money work better through blockchain technology.
The post JPMorgan Rolls Out JPM Coin for Faster Payments on Base appeared first on BitcoinLinux.com.
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Author: coinmaker