<ul data-eligibleForWebStory="true"><li>JPMorgan is testing a pilot project on Base, Coinbase's Ethereum Layer-2 (L2) network, with a new deposit token called JPMD issued by JPMorgan's blockchain unit, Kinexys.</li><li>The JPMD token mirrors actual bank deposits 1:1 and allows institutional clients to move funds instantly across blockchain rails with near-zero fees and around-the-clock availability.</li><li>JPMorgan aims to blend compliance standards of traditional banking with the flexibility of on-chain finance, joining other financial firms in exploring tokenized finance solutions through Coinbase's crypto-as-a-service suite.</li><li>Additionally, Base is expanding its ecosystem by adding wrapped versions of Cardano and Litecoin (cbADA and cbLTC), fully backed and held in Coinbase custody, enabling users to interact with ADA and LTC via Ethereum-compatible applications.</li></ul>

JPMorgan Enters On-Chain Payments with New Deposit Token on Coinbase’s Base

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