🏦 America’s largest bank is bringing “bank deposits” to Ethereum
According to Bloomberg / CoinDesk (around 10/19, 18:00 Beijing time): JPMorgan will make its dollar deposit token, JPM Coin, available to institutional clients and deploy it on the $ETH public blockchain—it had previously launched on Coinbase’s Base.
Key points:
• The token represents customers’ dollar deposits at the bank; it’s not the stablecoin-issuer model
• Ethereum was chosen for its greater liquidity and because institutional clients already use it
• Use cases: on-chain payments, trade settlement, and the underlying infrastructure for tokenized assets
• Its private blockchain, Kinexys, already processes over $7 billion a day; the bank handles around $12 trillion in payments per day
Binance spot prices (20:51 Beijing time): $ETH at around $2,423 (24h: around +0.23%), and $BTC at around $82,502 (24h: around +0.63%).
My take: After Deutsche Bank’s custody move, another banking giant is bringing “real fiat deposits” to a public blockchain. Institutional infrastructure is being built out, but that doesn’t mean crypto prices will necessarily rise in the short term.
#以太坊 #JPMCoin #机构入场 #Tokenization
⚠️ Not investment advice. DYOR.
According to Bloomberg / CoinDesk (around 10/19, 18:00 Beijing time): JPMorgan will make its dollar deposit token, JPM Coin, available to institutional clients and deploy it on the $ETH public blockchain—it had previously launched on Coinbase’s Base.
Key points:
• The token represents customers’ dollar deposits at the bank; it’s not the stablecoin-issuer model
• Ethereum was chosen for its greater liquidity and because institutional clients already use it
• Use cases: on-chain payments, trade settlement, and the underlying infrastructure for tokenized assets
• Its private blockchain, Kinexys, already processes over $7 billion a day; the bank handles around $12 trillion in payments per day
Binance spot prices (20:51 Beijing time): $ETH at around $2,423 (24h: around +0.23%), and $BTC at around $82,502 (24h: around +0.63%).
My take: After Deutsche Bank’s custody move, another banking giant is bringing “real fiat deposits” to a public blockchain. Institutional infrastructure is being built out, but that doesn’t mean crypto prices will necessarily rise in the short term.
#以太坊 #JPMCoin #机构入场 #Tokenization
⚠️ Not investment advice. DYOR.