JPMorgan Chase has officially launched its digital deposit token “JPM Coin (JPMD)” on Coinbase’s Ethereum Layer-2 public blockchain Base, marking a major milestone in the fusion of traditional finance and decentralized technology.
? BULLISH: JPMorgan Launches JPM Coin Token on Base Blockchain
JPMorgan rolled out JPM Coin for institutions on Coinbase's Base, enabling 24/7 instant payments and settlements.#JPMorgan #Base #Blockchain pic.twitter.com/8uZ4K7hTTj
— Unchained (@Unchained_pod) November 12, 2025
The JPM Coin represents U.S. dollar deposits held at JPMorgan, allowing institutional clients to transfer funds and settle transactions directly on-chain , combining the security of traditional banking with the efficiency of blockchain networks.
Digital Dollars Meet Blockchain Speed
According to JPMorgan’s blockchain division, Kinexys by J.P. Morgan, this marks the bank’s first large-scale deployment of a digital deposit token on a public blockchain for real-world transactions.
Institutional users can now move U.S. dollar-denominated funds instantly, 24 hours a day, without the limits of banking hours or settlement delays.
The launch follows a months-long pilot program in partnership with Mastercard, Coinbase, and B2C2, where JPM Coin was tested for corporate treasury settlements, cross-border liquidity transfers, and high-value institutional payments.
“JPM Coin merges the security of bank-backed deposits with the innovation of blockchain,” said Naveen Mallela, Co-Head of Kinexys by J.P. Morgan.
“It delivers efficiency, real-time speed, and liquidity freedom across institutional finance.”
A Regulated, Yield-Bearing Alternative to Stablecoins
Unlike traditional stablecoins that are backed by external reserves and offer no yield, JPM Coin provides a direct claim on U.S. dollar deposits held at JPMorgan.
This means clients can earn interest on their balances, as the token functions as a regulated digital deposit within the bank’s infrastructure.
Transactions occur in seconds, fully verifiable on-chain, while maintaining bank-grade compliance and security standards.
The system enables real-time, 24/7 settlement, reducing liquidity costs and eliminating time-zone constraints that typically affect cross-border payments and corporate treasury operations.
Part of a Broader Institutional Blockchain Push
JPM Coin’s rollout reflects rising demand from both digital-native and traditional enterprises seeking faster, programmable, and blockchain-compatible settlement solutions.
The token’s launch on Base enhances interoperability with smart contracts and automated financial tools, opening the door for institutional DeFi applications that adhere to regulatory standards.
JPMorgan’s move aligns with a growing industry trend and major banks like Citigroup, Deutsche Bank, and Banco Santander are developing their own digital deposit tokens to streamline payments, improve transparency, and bridge fiat and crypto business models.
The JPM Coin initiative, first revealed as a proof of concept in June 2025, is now positioned as a yield-generating, regulated alternative to stablecoins , offering both instant settlement and on-chain liquidity backed by one of the world’s largest banks.
