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.
24 Articles
24 Articles
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…
DBS and J.P. Morgan collaborate to allow seamless tokenized deposits between banks while exploring the interoperability between blockchain platforms. The article DBS and J.P. Morgan develop an interbank framework for tokenized deposits appeared first on Cointribune.
JPMorgan Expands JPM Coin To Coinbase’s Base Network, Creating A New Bridge Between Traditional Finance And DeFi
JPMorgan is taking a major step forward in blending modern blockchain technology with the traditional financial system. The bank has expanded its digital currency, JPM Coin, to Coinbase’s Base network, an advanced layer-2 blockchain built on Ethereum. This development, is designed to help large institutions move money more efficiently by using programmable digital transactions. For businesses exploring digital payments, automated workflows, or b…
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