#CryptoStocks

In a significant step underscoring 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 the traditional banking system with the rapidly evolving world of digital assets.

Naveen Mallela, head of global Kinexys, JPMorgan's blockchain unit, highlighted that JPMD is set to revolutionize on-chain digital asset settlements 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.