$USDC

In a significant step that underscores its commitment to the Cryptocurrency sector, JPMorgan Chase has officially announced the launch of its new token, JPMD, designed as a digital representation of commercial bank deposits. This innovative deposit token will operate on the public blockchain Coinbase, Base, built on Ethereum, marking an important step in bridging traditional banking systems with the rapidly growing world of digital assets.

Naveen Mallela, head of global Kinexys, JPMorgan's blockchain unit, emphasized that JPMD is set to revolutionize on-chain digital asset settlement and cross-border business-to-business transactions. "Institutions are seeking efficient and reliable on-chain cash solutions, and JPMD is designed to meet that demand," he revealed.