Overview
- JPMorgan’s JPMD is live for institutional clients on Coinbase’s Base, representing U.S. dollar deposits that settle payments in seconds around the clock.
- Coinbase will accept JPMD as collateral, with client‑of‑client access, euro version JPME, and deployments on additional blockchains planned subject to regulatory approval.
- A new JPMorgan–DBS framework links Kinexys and DBS Token Services to enable cross‑bank, cross‑chain transfers, allowing a JPM client to pay a DBS client who can redeem or hold the tokens on DBS’s platform.
- The launch follows trials with Mastercard, Coinbase, and B2C2, and positions deposit tokens as regulated, potentially interest‑bearing alternatives to privately issued stablecoins.
- Kinexys already handles over $3 billion in daily flows, signaling meaningful scale for moving institutional payments and collateral on‑chain as activity shifts to Base.