JPMorgan’s JPM Coin Arrives on Base: Around-the-Clock Settlements Secured by Bank Support

JPMorgan Chase (JPM) has brought its

Coin digital currency to the Base blockchain operated by Coinbase, in simplifying dollar transfers for institutional customers. This integration allows for nearly instant settlements at any time, utilizing Base’s 2 technology to deliver quicker and more streamlined transactions. Unlike conventional stablecoins, JPM Coin (JPMD) is backed by actual deposits maintained at , giving institutional clients access to regulated, interest-earning digital assets. The token is currently limited to approved institutional users, with the as regulatory permissions are secured.

This project fits into JPMorgan’s larger tokenization roadmap, which also features

to build a framework for interoperability between banks’ deposit tokens. The partnership’s goal is to link JPMorgan’s Kinexys system with DBS’s token solutions, across both public and private blockchains. This initiative in tokenized finance: isolated systems that restrict transactions between institutions. By developing a unified standard, the banks aim to establish a smooth on-chain environment for institutional users, enabling global exchange and redemption of tokenized deposits.

Recent regulatory changes are also encouraging this trend. U.S. banking authorities have recently decided to

for large institutions, including JPMorgan, under the Basel III guidelines. The suggested changes would lower the capital reserves required for major banks relative to their assets, potentially unlocking more liquidity for tokenization innovation. This regulatory shift coincides with more than a third of commercial banks surveyed having implemented or piloted tokenized deposit platforms, .

Naveen Mallela, who leads blockchain at JPMorgan, stressed the strategic value of deposit tokens like JPMD,

. These tokens merge the reliability of bank-issued assets with the flexibility of blockchain, making possible uses like automated collateral handling and redemption of tokenized funds. Meanwhile, Rachel Chew, DBS’s digital currency chief, pointed to the advantages for round-the-clock international payments, operating in global markets.

The introduction of JPMD on Base further highlights the growing acceptance of public blockchain solutions by institutions. By opting for Coinbase’s Ethereum Layer 2 network, JPMorgan demonstrates the platform’s suitability for high-level institutional transactions, balancing affordable costs with regulatory standards. This development may prompt other banks to pursue similar approaches, especially as the Federal Reserve’s plan for continuous Fedwire operations is still pending review.