US EditionJP Morgan Rolls Out JPM Coin Token To Institutional Clients Via Coinbase's Blockchain - Citigroup (NYSE:C), Coinbase Global (NASDAQ:COIN)
JPM Coin enables faster transactions and serves as collateral on Coinbase; JPMorgan plans to expand tokens and currencies, enhancing institutional digital asset use.
- JPMorgan Chase & Co. has started rolling out JPM Coin, a deposit token representing dollar deposits, to institutional clients via Coinbase's public blockchain Base after a months-long pilot first announced in June.
- After a months-long trial and pilot announced in June involving Mastercard , Coinbase, and B2C2, large banks like Citigroup expand digital assets following the U.S. Genius Act.
- JPM Coin will be accepted as collateral on Coinbase, connecting the token to on-chain lending and trading venues, while deposit tokens can be interest-bearing and enable faster transfers across blockchain networks.
- Its longer-term plan calls for expansion onto other blockchains and JPMorgan aims to make the token available to clients' customers and introduce multi-currency versions, subject to regulatory approval.
- If broadly adopted, deposit tokens designed to move across blockchain networks could speed settlement and alter how institutional investors and banks use dollar deposits and on-chain collateral markets.
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JP Morgan Rolls Out JPM Coin Token To Institutional Clients Via Coinbase's Blockchain - Citigroup (NYSE:C), Coinbase Global (NASDAQ:COIN)
JPMorgan Chase & Co. (NYSE:JPM) has started rolling out a deposit token called JPM Coin to its institutional clients, according to a report, as banks continue to broaden their involvement in digital assets. The token, which represents dollar deposits at the world's largest bank, allows users to send and receive money via Coinbase‘s (NASDAQ:COIN) public blockchain Base, Naveen Mallela, global co-head of JPMorgan’s blockchain division Kinexys, tol…
The US-Großbank launches its own token. The introduction promises fast payments around the clock via the blockchain. That's how the whole thing works.
The JPM Coin, the token of JPMorgan, is now available on the layer 2 solution of Coinbase, Base. What's the point of this evolution? The article JPMorgan launches its token JPM Coin on the layer 2 of Coinbase appeared first on Cryptoast.
Revolution in banking. JPMorgan, the largest bank in the world, has crossed a long-awaited border in the sector with the launch of its cryptocurrency JPM Coin, which tokenizes the real deposits of its customers and allows the movement of money in real time, 24 hours a day and 7 days a week. It is a decisive step, a before and after, in the transformation of digital payments that will be followed by other big banking entities, with several ongoin…
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