Catenaa, Monday, November 17, 2025- JPMorgan has officially rolled out its USD-denominated deposit token, JPM Coin (JPMD), to institutional clients on Base Layer 2, following months of testing and a successful pilot.
The deposit token enables near-instant, 24/7 settlement of onchain payments for institutional clients while representing JPMorgan’s existing bank deposits on a public blockchain. Major financial players, including B2C2, Coinbase, and Mastercard, have already completed test transactions using JPMD.
JPMD is designed specifically for institutional users, leveraging regulatory compliance, know-your-customer protocols, and existing banking infrastructure. JPMorgan’s Kinexys unit highlighted the token’s ability to enhance transaction speed and efficiency on public blockchains, starting with Base, an Ethereum Layer 2 built within Coinbase.
The bank plans to expand JPMD to additional blockchains. JPMorgan has also secured the trademark JPME, signaling a potential euro-denominated deposit token in the future. JPMorgan’s rollout coincides with broader industry moves, including DBS and Kinexys developing an interoperability framework for transfers of tokenized deposits across public and permissioned blockchain networks.
Other major banks are exploring similar solutions. Bloomberg reported that BNY Mellon is assessing tokenized deposits for blockchain payments, while UK lenders Barclays, Lloyds, and HSBC have begun a pilot for tokenized sterling deposits.
The JPM Coin launch reflects a growing trend among global banks to adopt tokenized deposit solutions, enabling faster, onchain native payments while retaining traditional regulatory safeguards.
