Kinexys, JPMorgan Chase’s blockchain division, has officially deployed its dollar deposit token, JPM Coin, on the Ethereum mainnet.
The token was previously operating on the Base layer-2 network. This expansion is available to eligible institutional clients and supports cross-chain transfers between the two networks.
As a commercial bank deposit token, each unit corresponds to an actual deposit and can be redeemed around the clock. It is restricted to vetted institutions for wholesale payments settlement and collateral transfers.
Unlike traditional interbank wire transfers, which are limited by business hours, institutions can move funds directly within the public blockchain ecosystem, reducing large-value wholesale settlements from days to seconds.
The token was previously operating on the Base layer-2 network. This expansion is available to eligible institutional clients and supports cross-chain transfers between the two networks.
As a commercial bank deposit token, each unit corresponds to an actual deposit and can be redeemed around the clock. It is restricted to vetted institutions for wholesale payments settlement and collateral transfers.
Unlike traditional interbank wire transfers, which are limited by business hours, institutions can move funds directly within the public blockchain ecosystem, reducing large-value wholesale settlements from days to seconds.