Overview

• JPMorgan has begun issuing JPMD on Coinbase’s Base blockchain as a permissioned token exclusively for its institutional clients.
• Designed to mirror traditional deposits, JPMD provides 24/7 on-chain settlement and will accrue interest for holders.
• The token targets efficient institutional cash management and cross-border business-to-business transfers using blockchain technology.
• A trademark filing for JPMD earlier this month signaled JPMorgan’s shift toward proprietary digital asset offerings separate from public stablecoins.
• A Senate vote on the bipartisan GENIUS Act is set for today to establish a formal regulatory framework for stablecoins and digital assets.