On November 12, 2025, JPMorgan announced the launch of JPM Coin on Coinbase’s Base public blockchain, marking the first time a major U.S. bank issued a U.S. dollar deposit token on a public blockchain.
JPM Coin is a deposit token that represents dollar deposits held by JPMorgan. The token can be used by institutional clients to send and receive money on the Base network, providing near‑instant, 24/7 settlement that outpaces traditional banking hours and reduces cross‑border friction.
The partnership validates Coinbase’s Base network as a platform for institutional finance and expands the network’s use cases beyond retail crypto. For JPMorgan, the launch is a milestone in its broader blockchain strategy, which includes the Kinexys network and plans to issue a euro‑denominated version of the token. The token’s regulated nature and potential to earn yield on underlying deposits give it an advantage over typical stablecoins.
JPMorgan plans to extend JPM Coin to other blockchains and to other currencies, while Coinbase will accept the token as collateral on its platform. The move signals growing institutional appetite for regulated digital assets and positions both firms to capture new revenue streams from faster, cheaper cross‑border payments.
Naveen Mallela, JPMorgan’s global co‑head of blockchain, said the launch delivers “the security of bank‑backed deposits and settlement, combined with the speed and innovation of 24/7, near real‑time blockchain transactions, increasing efficiency and unlocking liquidity.” Coinbase CEO Brian Armstrong added that “on‑chain payments are the future.”
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.