#PowellRemarks

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 Coinbase blockchain, Base, built on Ethereum, marking an important step in bridging traditional banking systems with the rapidly evolving world of digital assets.

Naveen Mallela, global head of Kinexys, JPMorgan's blockchain unit, highlighted that JPMD is poised 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 stated.