JPMorgan launches JPM Coin deposit token on Base blockchain

The new JPMD token will allow institutional clients to make instant payments on the public Ethereum Layer 2 blockchain created by Coinbase

JPMorgan официально запустил депозитный токен JPM Coin на платформе Base

12.11.2025 - 10:55

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Key points:

JPMorgan has launched the JPM Coin (JPMD) deposit token for institutional clients on the Base blockchain.
The first transactions were tested by Mastercard, Coinbase, and B2C2.
The bank plans to issue a similar token in euros under the JPME brand.

JPMorgan has completed a proof-of-concept for its JPM Coin (JPMD) deposit token and has officially launched it for institutional clients on the Base blockchain, which runs on Ethereum Layer 2. This was reported by Bloomberg.

The project was developed by the Kinexys division and underwent several months of testing, which began in June 2025. JPMD is now available for 24/7 instant settlements, allowing the bank’s corporate clients to make transfers on the public blockchain at minimal cost.

How JPM Coin works

The JPMD deposit token is a tokenized form of a JPMorgan bank deposit backed by real customer funds. It is intended for regulated institutional users who have already undergone KYC procedures and have the banking infrastructure for on-chain operations.

Unlike classic stablecoins, JPMD is not freely traded on the market and serves as a tool for closed settlements between financial institutions. According to JPMorgan, the first transactions have already been carried out by B2C2, Coinbase, and Mastercard.

Expansion to other blockchains

JPMorgan intends to expand the use of deposit tokens to other networks. The bank has registered the JPME trademark, under which it plans to issue a deposit token denominated in euros.

In addition, JPMorgan and Singapore’s DBS Bank have announced the development of a platform that will enable interaction between public and controlled blockchain networks for tokenized deposit transfers.

JPMorgan is considering launching secured lending in cryptocurrencies, including bitcoin and ethereum. The new product could be introduced in 2026. In July 2025, the bank also began developing a model for loans secured by cryptocurrency ETF shares.

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