Special 18/6/2025

On the Ethereum network: #JPMorgan Bank launches a stablecoin named "JPMD"

It will be created on the "BASE" network chain

JP MORGAN# CHASE revealed that it is working on launching a stable cryptocurrency named JPMD in the form of the Tether stablecoin.

The bank mentioned that the stablecoin token will be created on the #BASE network chain of the "Coinbase" platform, which is built on the #Ethereum network.

The currency will allow for financial operations to settle around the clock as well as benefit from executing cross-border transfers and achieving financial gains as a result of holding it, but the benefit of these services will be restricted only to the bank's individual and financial institutional clients.

JPMorgan stated that the benefit of launching a deposit token instead of a stablecoin is the close connection to traditional banking systems.

The American banking giant stated to CNBC yesterday, Tuesday, that it plans to launch what is called a deposit token on the #Coinbase platform, a public blockchain built on the #Ethereum network. Each deposit token aims to serve as a digital representation of a commercial bank deposit.

JPMD will provide its clients with round-the-clock settlement, in addition to the ability to pay interest to its holders. This currency is known as the 'authorized token', meaning it is available only to institutional clients of JPMorgan - unlike many stablecoins available to the public.

Naveen Malila, co-president of #Kinexys, JPMorgan's blockchain unit, told CNBC on Tuesday: 'We see institutions using JPMD for digital asset settlement solutions on-chain as well as for conducting cross-border transactions between companies.'

He added: 'Given the fact that deposit tokens will ultimately carry interest as well, this would provide better exchangeability with the current deposit products that institutions are currently using.'

Deposit token versus stablecoin

JPMorgan stated that the benefit of launching a deposit token instead of a stablecoin is that it provides institutional clients with a way to transfer funds faster and easier while maintaining a close connection to traditional banking systems.

#FOMCMeeting #BTC走势分析 #EarnFreeCrypto2024 #JPMorgan