{"id":856367,"date":"2025-06-18T09:11:36","date_gmt":"2025-06-18T14:11:36","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/06\/18\/jpmorgan-pilots-tokenized-deposit-token-on-base-targeting-instant-dollar-transfers\/"},"modified":"2025-06-18T09:11:36","modified_gmt":"2025-06-18T14:11:36","slug":"jpmorgan-pilots-tokenized-deposit-token-on-base-targeting-instant-dollar-transfers","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/06\/18\/jpmorgan-pilots-tokenized-deposit-token-on-base-targeting-instant-dollar-transfers\/","title":{"rendered":"JPMorgan pilots tokenized deposit token on Base, targeting instant dollar transfers"},"content":{"rendered":"
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\"JPMorgan JPMorgan pilots tokenized deposit token on Base, targeting instant dollar transfers<\/span> Gino Matos \u00b7<\/span> 18 hours ago<\/span> \u00b7 2 min read<\/span> <\/span> <\/span> <\/span> <\/span><\/p>\n

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The JPMD, registered on June 16, represents a claim on deposits held at the bank and differs from stablecoins that rely on segregated securities reserves.<\/p>\n

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2 min read<\/span><\/p>\n

Updated:<\/span> Jun. 17, 2025 at 9:31 pm UTC<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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\"JPMorgan<\/p>\n

Cover art\/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.<\/p>\n<\/div>\n<\/div>\n

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\"Nemo\" <\/a><\/p>\n<\/div>\n

JPMorgan<\/a> will pilot a dollar-denominated deposit token called JPMD on Coinbase\u2019s<\/a> Base blockchain within days, global blockchain division co-head Naveen Mallela said in an interview with Bloomberg News on June 17.\u00a0<\/span><\/p>\n

The test will transfer a fixed amount of JPMD from the bank\u2019s digital wallet to Coinbase, making the token available to selected institutional users for payments and settlements.<\/span><\/p>\n

Coinbase\u2019s institutional clients will then employ JPMD for on-chain transactions. JPMorgan anticipates that the trial will run for several months before being expanded to other client segments and additional currency denominations, pending regulatory approval.<\/span><\/p>\n

JPMD represents a claim on deposits held at the bank and differs from stablecoins that rely on segregated securities reserves.<\/span><\/p>\n

Mallela called deposit tokens \u201ca superior alternative\u201d for institutions because they operate inside the fractional-reserve banking system, may earn interest, and could qualify for deposit insurance.\u00a0<\/span><\/p>\n

JPMorgan already clears more than $2 billion a day over its private Kinexys Digital Payments network, formerly JPM Coin.<\/span><\/p>\n

Commercial banking on-chain<\/strong><\/h2>\n

The announcement follows<\/span> JPMorgan\u2019s June 16 trademark filing<\/a><\/strong> for \u201cJPMD,\u201d which covers trading, transfer, and payment services tied to digital tokens. The filing cites electronic fund transfers, custody, and real-time token trading, all of which are under the bank\u2019s ownership.<\/span><\/p>\n

Base<\/span> confirmed the collaboration<\/strong><\/span><\/a> on June 17, adding:<\/span><\/p>\n

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\u201cIt will be the first token of its kind on a public blockchain, enabling fast, secure, 24\/7 money movement between trusted parties. [\u2026] Moving money should take seconds, not days. Commercial banking is coming on-chain.\u201d<\/strong><\/p>\n<\/blockquote>\n

According to Mallela, JPMorgan\u2019s whitepaper on deposit tokens argues that commercial bank money already accounts for more than 90% of circulating funds and will likely assume a comparable share in digital form.\u00a0<\/span><\/p>\n

Furthermore, JPMorgan expects institutional demand for a bank-issued alternative to stablecoins to drive early use of JPMD.\u00a0<\/span><\/p>\n

Pending a successful pilot and regulator clearance, the bank intends to scale issuance volumes and add currency options, positioning deposit tokens as a core tool for cross-border settlement and on-chain liquidity management.<\/span><\/p>\n

Large banks and corporations, such as<\/span> Bank of America<\/a><\/strong> and the<\/span> Depository Trust & Clearing Corporation (DTCC)<\/a><\/strong>, have increased blockchain experiments as Congress advances stablecoin legislation that could formalize reserve and audit rules.<\/span><\/p>\n

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Read More<\/a>
\n Gino Matos<\/p>\n","protected":false},"excerpt":{"rendered":"

JPMorgan pilots tokenized deposit token on Base, targeting instant dollar transfers Gino Matos \u00b7 18 hours ago \u00b7 2 min read The JPMD, registered on June 16, represents a claim on deposits held at the bank and differs from stablecoins that rely on segregated securities reserves. 2 min read Updated: Jun. 17, 2025 at 9:31<\/p>\n","protected":false},"author":1,"featured_media":856368,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[110,1176],"tags":[],"class_list":{"0":"post-856367","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-jpmorgan","8":"category-pilots"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/856367","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=856367"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/856367\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/856368"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=856367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=856367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=856367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}