Author: Zayne Pham

What Is JPMD and How It Differs from Stablecoins JPMorgan Chase has taken a landmark step into the cryptocurrency frontier with the launch of JPMD, its proprietary deposit token built on Coinbase’s Base blockchain, a public Ethereum Layer-2 network. Unlike traditional stablecoins such as USDT or USDC, JPMD represents a digital claim on a commercial bank deposit. It is backed 1:1 by USD deposits held at JPMorgan, offering a tokenized form of on‑chain cash that remains fully compliant with banking regulations. JPMD is structured as a “permissioned” token: issuance and transfers are restricted to JPMorgan’s institutional clients. This model offers…

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