PANews November 12th News, according to Bloomberg, JPMorgan Chase has begun offering a deposit token called JPM Coin to institutional clients, as financial institutions continue to expand their digital asset footprint. Naveen Mallela, Global Head of Kinexys, JPMorgan’s blockchain division, stated that JPM Coin represents JPMorgan’s US dollar deposits. Users can send and receive funds through the public blockchain Base, associated with Coinbase, enabling 24/7, second-level settlement payments, changing the previous limitations of multi-day processing during business hours. Previously, JPM Coin underwent several months of pilot testing, with companies like Mastercard and Coinbase participating. JPMorgan plans to open the token to clients’ clients in the future, expand to other currencies upon approval, and extend to other blockchains. The JPM Coin (JPMD) pilot program was announced in June. JPMorgan has registered the stock ticker JPME for its euro deposit token, and JPM Coin will be accepted as collateral on Coinbase.
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