JPMorgan Chase is partnering with Coinbase to make crypto more accessible for Chase customers. Chase clients will soon be ...

JPMorgan’s JPMD represents tokenized bank deposits, backed by fractional reserves and issued under strict regulatory oversight. The JPMD pilot is running on Base, a public Ethereum layer-2 solution.

JPMD has had "preliminary interest from large institutional players who want more native onchain cash solutions from pre-eminent and reputed financial institutions," Mallela added.

JPMorgan’s JPMD stablecoin on Coinbase’s Base blockchain could revolutionize dollar digitization and boost deposit growth. Jamie Dimon shifted from crypto skeptic to pioneer, positioning ...

However, JPMD appears to aim for broader applications, potentially extending beyond institutional use to compete with major stablecoins in a market valued at $262 billion, according to CoinGecko.