JPMorgan Moves JPM Coin to Coinbase’s Base Network

Crypto news outlet Wu Blockchain reported that JPMorgan has migrated its tokenized deposit product, JPM Coin, from its permissioned Kinexys blockchain to Coinbase’s Ethereum Layer-2 network Base. According to the report, the move is intended to enable payments, collateral use, and margin settlement for institutional clients on public blockchains. JPM Coin was previously limited to private networks, and the change is described as aligning with increasing demand for interoperability between traditional finance and public blockchain infrastructure.