JPMorgan debuts blockchain deposit token

JPMorgan Chase & Co. (NYSE: JPM) has travel a agelong mode erstwhile it comes to crypto. At 1 point, they utilized to look astatine thing blockchain oregon integer assets with skepticism.

CEO Jamie Dimon, who famously called Bitcoin a “fraud” successful 2017, has since softened his stance, acknowledging that “the blockchain is real.”

Analysts presumption the determination arsenic a full-circle infinitesimal for Wall Street’s largest bank, signaling crypto’s acceptance successful mainstream finance.

But the slope has present made different milestone determination that reinforces the bank’s increasing relation successful the integer plus ecosystem.

JPMorgan Chase & Co. has officially launched its blockchain-powered deposit token, JPM Coin (JPMD), for organization clients, arsenic reported by Bloomberg on Nov. 12.

The token, representing dollar deposits astatine the world’s largest bank, enables instant wealth transfers connected Coinbase’s Base blockchain, operating 24/7 alternatively of accepted banking hours.

According to Naveen Mallela, planetary co-head of Kinexys, JPMorgan’s blockchain division, the motorboat follows palmy trials involving Mastercard, Coinbase, and B2C2.

The slope plans to widen entree to clients’ clients and present multi-currency support, including a euro-backed mentation nether the trademark JPME, pending regulatory approval.

JPMorgan is steadily expanding its blockchain usage cases. By the extremity of the year, the slope is readying to let organization clients to usage Bitcoin (BTC) and Ether (ETH) arsenic collateral for loans.

“We deliberation that stablecoins get a batch of buzz, but for organization clients, deposit-based tokens connection a compelling, yield-bearing alternative,” Mallela said.

• Cathie Wood buys $9.2 cardinal of Ethereum-treasury stock

• Coinbase launches caller level for aboriginal entree to integer assets

• Crypto Confession: 'I decided to interaction my parents’ investment. They had nary idea. Fast forward, I mislaid everything'

Deposit tokens similar JPM Coin disagree from stablecoins specified arsenic Tether (USDT) oregon USD Coin (USDC) due to the fact that they correspond existent deposits held astatine regulated banks, combining blockchain ratio with accepted fiscal safeguards. The conception aligns with caller developments nether the GENIUS Act successful the United States, which formalizes stablecoin regularisation and encourages innovation successful tokenized banking.

Industry peers, including Citigroup, Deutsche Bank, Banco Santander, and PayPal, are besides exploring blockchain colony tools.

Related: Jamie Dimon Regrets Bitcoin 'Fraud' Dismissal, Says Blockchain Is 'Real'

This communicative was primitively reported by TheStreet connected Nov 12, 2025, wherever it archetypal appeared successful the Business News section. Add TheStreet arsenic a Preferred Source by clicking here.