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Wednesday Nov 12 2025 10:40
2 min
JPMorgan Chase & Co. — the world’s largest bank by market capitalization — has begun deploying JPM Coin, a token representing US dollar deposits held at the bank. This development signifies a major step towards the adoption of blockchain technology in traditional finance.
According to a Bloomberg report, JPMorgan's institutional clients now have access to JPM Coin. Naveen Mallela, a co-lead of the bank’s blockchain division, explained that this digital token represents US dollar deposits and allows users to send and receive money on the blockchain created by the US crypto exchange Coinbase, Base, a platform endorsed by the bank.
JPM Coin enables instant, 24/7 payment processing, significantly faster than typical times in the US banking system. This announcement follows JPMorgan and Singapore multinational banking group DBS's development of a blockchain-based tokenization framework to enable on-chain transfers between their deposit token ecosystems.
JPM Coin is a deposit token, representing a direct claim on a bank deposit, making it a regulated liability of the issuing bank. This distinguishes it from traditional stablecoins, which are issued by private entities and backed by assets to maintain their value.
Mirroring the broader US financial industry, JPMorgan is intensifying its focus on tokenization and blockchain technology. In late October, JPMorgan's private bank and asset management divisions executed the first transaction on the upcoming Kinexys Fund Flow fund tokenization platform.
The firm has also shown enthusiasm for the broader crypto ecosystem, not just blockchain-based tokenization. In late October, JPMorgan reportedly planned to let clients use Bitcoin and Ether as collateral for loans.
In mid-January, JPMorgan suggested that a Solana ETF would attract $3 billion to $6 billion, while an XRP ETF would garner $4 billion to $8 billion in new investments. The bank is also reportedly developing cryptocurrency trading services.
Additionally, in October, JPMorgan informed its financial advisors that all clients can invest in cryptocurrency funds, removing previous restrictions that limited access to high-net-worth investors with over $1.5 million in assets and an aggressive risk profile.
Risk Warning: This article is provided for informational purposes only and does not constitute investment advice, investment research, or a recommendation to trade. The views expressed are those of the author and do not necessarily reflect the position of Markets.com. When considering shares, indices, forex (foreign exchange), and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and may not be suitable for all investors. Leveraged products can result in capital loss. Past performance is not indicative of future results. Before trading, ensure you fully understand the risks involved and consider your investment objectives and level of experience. Cryptocurrency CFD trading restrictions may apply depending on jurisdiction.
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