JPMorgan Launches JPM Coin On Coinbase’s Base Blockchain

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JPM Coin Launch Comes After A Months-Lengthy Trial Deposit-Based mostly Merchandise Can Supply Direct Yield Associated Articles:

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JPMorgan Chase & Co. has launched its digital deposit token, JPM Coin (JPMD), on Coinbase’s Base blockchain, deepening Wall Avenue’s push into Web3 funds.

In response to a Bloomberg report that quoted Naveen Mallela, the co-head of JPMorgan’s blockchain group Kinexys, the token represents greenback deposits in purchasers’ accounts and can allow near-instantaneous transfers.

Mallela mentioned that whereas there’s “loads of buzz” round stablecoins for the time being, “deposit-based merchandise supply a compelling various” for institutional purchasers.

Different corporations appear to agree with the Financial institution of New York Mellon and HSBC saying they’re additionally engaged on their very own deposit token options.

🇺🇸 JP MORGAN GOES EVEN DEEPER INTO BLOCKCHAIN
JP Morgan is taking crypto adoption to the subsequent degree. The financial institution rolled out JPM Coin on Coinbase’s Base community.
Not like stablecoins, deposit tokens are digital claims on present financial institution funds and will be interest-bearing, giving… pic.twitter.com/d8qyuH5MiT
— CryptosRus (@CryptosR_Us) November 12, 2025

JPM Coin Launch Comes After A Months-Lengthy Trial

With JPM Coin, fee processing can occur in seconds reasonably than days and funds can happen 24/7 as a substitute of solely throughout banking hours, given blockchain expertise’s steady operation.

The launch of JPM Coin comes after plans for the token’s pilot interval have been first introduced in June.

Within the months after these plans have been introduced, the agency carried out the pilot with main firms that included Mastercard, Coinbase, and B2C2, in keeping with a press release by the businesses.

For now, JPMD is just accessible on Base. Nevertheless, Mallela mentioned the financial institution plans to increase the token to different blockchain networks. What’s extra, there are additionally plans to increase the token to a number of different currencies, pending regulatory approval.

In preparation for the multi-currency plans, Mallela mentioned the financial institution has already trademarked the ticker image “JPME” for the potential future launch of a euro-denominated deposit token.

Deposit-Based mostly Merchandise Can Supply Direct Yield

Not like stablecoins which are backed by liquid reserves at a ratio of 1:1, deposit-based tokens signify a declare on present buyer deposits. In essence, they’re tokenized variations of cash that’s already sitting in financial institution accounts.

In response to Mallela, deposit-based merchandise have a serious benefit over stablecoins in the truth that they are often yield-bearing.

At present, the GENIUS Act prohibits stablecoin issuers from providing yields to their purchasers instantly. However this ban is just not prolonged to 3rd events or associates. Stablecoin corporations have seen this as a strategy to work across the ban and Coinbase already presents USDC yields to holders.

That has been some extent of rivalry between banks and crypto-native corporations which have their very own stablecoins. Banking teams have urged Congress to deal with the “loophole,” whereas crypto corporations argue these calls are a part of an effort to restrict competitors available in the market.

After the US Treasury Division requested for public touch upon methods to implement the GENIUS Act, Coinbase mentioned it’s essential to implement laws that observe the clear intent of the GENIUS Act, together with the present wording round direct stablecoin yields.

We submitted @coinbase‘s response to @USTreasury‘s request for feedback on the implementation of the GENIUS Act. Our message is straightforward: GENIUS is landmark laws designed to make the US the undisputed international chief in crypto and stablecoins. To make that occur, the… pic.twitter.com/XLyq15u0Ov
— Faryar Shirzad 🛡️ (@faryarshirzad) November 5, 2025