JPMorgan quietly rolled out JPMD on Ethereum mainnet. It’s not a stablecoin, and it’s not for you and me.
Here’s what it is:
доступ only for institutions through Kinexys
Not traded on exchanges
A tokenized dollar deposit
It was previously on Base, and has now made its way to Ethereum
According to Kinexys: over $4 trillion in transactions, around $7 billion a day
I think this matters more than yet another stablecoin: the largest bank in the US is building its own rails for corporate payments. Retail is just watching for now.
If banks have tokenized deposits, will public stablecoins even still be needed by corporates?
Here’s what it is:
доступ only for institutions through Kinexys
Not traded on exchanges
A tokenized dollar deposit
It was previously on Base, and has now made its way to Ethereum
According to Kinexys: over $4 trillion in transactions, around $7 billion a day
I think this matters more than yet another stablecoin: the largest bank in the US is building its own rails for corporate payments. Retail is just watching for now.
If banks have tokenized deposits, will public stablecoins even still be needed by corporates?