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JPMorgan Chase is expanding its blockchain presence by piloting its new deposit token, JPMD, on Coinbase via the Base network. The move marks a significant step in institutional adoption of blockchain technology. The pilot phase will involve transferring a fixed amount of JPMD tokens to Coinbase.
- JPMorgan’s JPMD token pilot will be conducted on Coinbase’s Base network, the leading Ethereum layer-2 solution.
- The pilot involves transferring a fixed amount of JPMD tokens to Coinbase, as confirmed by Kinexys executive Naveen Mallela.
- Post-pilot, institutional clients will be able to use JPMD for transactions, enhancing blockchain integration in traditional finance.
📎 Related coverage from: cointelegraph.com