JPMorgan plans JPM Coin on Ethereum for approved counterparties
The bank cited public-chain liquidity; The Block reported peer-to-peer transfers within the Ethereum Virtual Machine ecosystem, including Base.
At a glance
JPMorgan plans to bring JPM Coin, its dollar-denominated deposit token, to Ethereum for approved counterparties, according to Bloomberg, which cited the head of Kinexys Labs.
The Block reported that the token now supports peer-to-peer transfers within the Ethereum Virtual Machine ecosystem, including Base.
The approved-counterparty restriction sets the practical market size: on a public chain the ledger is open, but JPMorgan decides who may hold and transfer the token.
JPMorgan plans to bring JPM Coin, its dollar-denominated deposit token, to Ethereum for approved counterparties, according to Bloomberg, which cited the head of Kinexys Labs. The bank cited public-chain liquidity: the chain offers more liquidity than rival networks and is already used by institutional clients.
The Block reported that the token now supports peer-to-peer transfers within the Ethereum Virtual Machine ecosystem, including Base.
The approved-counterparty restriction sets the practical market size: on a public chain the ledger is open, but JPMorgan decides who may hold and transfer the token.
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