JPMorgan Chase pilots JPMD deposit tokens on Base chain, putting commercial deposits on chain for the first time

Odaily News JPMorgan Chase announced that it will pilot the issuance of JPMD tokens on Coinbase's public blockchain Base, representing US dollar deposits. The first transfer will be completed within a few days and will only be available to institutional clients. JPMD is scalable and may support interest-bearing and deposit insurance in the future, and is seen as a compliant alternative to stablecoins. (Bloomberg)