JPMorgan Chase has launched a deposit token on the Base network

JPMorgan Chase Bank has presented a new deposit token, JPM Coin (JPMD), which was launched on the Base network in June 2025. This token is a digital obligation for a deposit with the bank, which avoids the pegging to fiat currencies that is typical for stablecoins. According to Naveen Mallela, joint head of the JPMorgan Kinexys blockchain group, this token simplifies and significantly speeds up the process of mutual settlements between clients, allowing for real-time transactions.

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Currently, only the dollar deposit token is available to customers, but the bank plans to issue euro-pegged tokens in the future, as evidenced by the registration of the JPME trademark. If approved by regulators, JPM Coin will be integrated into other public blockchains, which confirms JPMorgan's intention to create a more transparent alternative to traditional stablecoins. This project is a continuation of the bank's blockchain experiments, which previously launched its dollar stablecoin JPM Coin on the closed Onyx network.