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JPMorgan Activates JPM Coin Deposit Token on Base Layer 2 Network

JPMorgan Chase activated its USD-pegged institutional deposit token JPMD on Base, Coinbase's Ethereum Layer 2 network, following a pilot that began in June 2025. The token enables round-the-clock blockchain settlements through the bank's Kinexys platform, with each unit backed one-to-one by USD deposits in segregated JPMorgan accounts. Unlike retail stablecoins, JPMD targets banks and investment funds exclusively, with no public market trading currently available.
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