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JPMorgan Chase integrated its JPM Coin deposit token with Coinbase’s Base blockchain on November 12, allowing institutional clients to send instant USD payments on public blockchain infrastructure for the first time.
The move marks the largest U.S. bank’s first deployment of its proprietary payment token on a public network after years of operating exclusively on private chains.
The JPM Coin Launch on Base follows a series of successful pilot programs with Mastercard, Coinbase, and B2C2, all designed to test real-world blockchain settlement systems. According to JPMorgan’s blockchain lead Naveen Mallela, the move was driven by the bank’s goal to “bridge regulated banking with open blockchain ecosystems.”
“Deposit tokens like JPM Coin offer a practical, yield-bearing alternative for institutions seeking speed, compliance, and on-chain efficiency,” said Mallela in a Bloomberg interview.
By launching on Base, the public blockchain developed by Coinbase, JPMorgan ensures seamless integration with Ethereum-based decentralized applications (dApps) while maintaining institutional-grade compliance. The Base network, known for its high transaction speed and low fees, was chosen to provide reliable infrastructure for tokenized finance at scale.
Unlike stablecoins such as USD Coin (USDC), which are issued by fintechs and backed by reserves, JPM Coin is a deposit token — directly representing fiat funds held in regulated JPMorgan accounts. This structure makes the JPM Coin Launch unique in that it brings blockchain speed to the banking world without leaving the protection of traditional finance.
Institutional users can now send payments, earn interest on tokenized deposits, and even use JPM Coin as collateral on Coinbase, bridging liquidity between TradFi and DeFi.
This marks the first time a major global bank has placed part of its payment infrastructure on a public blockchain. Financial analysts predict this move will reshape institutional liquidity management, enabling faster settlement, lower costs, and reduced counterparty risks.
As part of its broader strategy, JPMorgan has also announced a new partnership with DBS Bank to test cross-border tokenized deposits through its Kinexys platform and DBS Token Services.
The bank’s Kinexys network already processes over $3 billion in daily transactions, and shifting part of that activity to Base could elevate the blockchain’s total value locked (TVL) beyond $5 billion.
Industry observers view this JPM Coin Launch as a potential catalyst for the next wave of real-world asset (RWA) tokenization, a sector expected to exceed $10 trillion by 2030, according to Boston Consulting Group.
“This is not just about faster payments — it’s about reimagining how liquidity and value move globally,” said Emma Todd, CEO of MMH Blockchain Group. “The JPM Coin Launch signals that institutional blockchain adoption has officially entered its prime time.”
With JPM Coin Launch now live on Base, JPMorgan has redefined the boundaries of digital finance. Institutional clients gain the flexibility to transact beyond banking hours while maintaining regulatory assurance and settlement finality.
This milestone reinforces the growing narrative that blockchain technology is no longer an experiment for banks — it’s becoming core financial infrastructure. The successful JPM Coin Launch may also inspire other financial institutions to adopt similar frameworks, accelerating the shift toward tokenized deposits and programmable money.
As JPMorgan leads this transformation, one message is clear: the JPM Coin Launch is not merely a product release — it’s the dawn of a new chapter in banking’s digital revolution.
