JPMorgan Chase is piloting "JPMD" - a deposit tokenβa digital representation of a bank deposit that is managed with blockchain. JPMD will be issued on Base, a public Ethereum-based blockchain managed by Coinbase.
The token, exclusively available to JPMorganβs institutional clients, which include corporations and pension funds, will be used to settle transfers 24hrs. per day and make cross-border business-to-business payments.
This is NOT a stablecoin, JPMD will be backed by βthe same liquidity frameworks as traditional banks,β according to the Bank.
https://finance.yahoo.com/news/jpmorgan-chase-partners-coinbase-launch-175104015.html #Crypto #JPMorgan #Banking #DepositToken #DigitalToken #CoinBase #Base #blockChain #Ethereum