JPMorgan Launches JPM Coin on Ethereum for Institutional Clients
According to Bloomberg, JPMorgan Chase announced the launch of a deposit token (JPM Coin) representing its US dollar deposits for institutional clients on the Ethereum network, further expanding its blockchain payments business. Initially launched last year on the Coinbase-affiliated blockchain network Base, the token enables institutional clients to bypass the constraints of traditional business days and multi-day settlement cycles, facilitating round-the-clock, second-level fund transfers.
