JPMorgan has launched its JPM Coin digital currency on Coinbase’s Base blockchain network, according to recent reports. The move represents a significant expansion of the bank’s blockchain-based payment system beyond its traditional infrastructure.
JPM Coin, which has been operational since 2019 for institutional clients, enables large-scale transactions and cross-border payments within JPMorgan’s network. By integrating with Base, Coinbase’s Ethereum layer-2 solution, the bank aims to enhance transaction speed and reduce costs while maintaining the security standards required for institutional banking operations.
The deployment on Base marks JPMorgan’s continued investment in blockchain technology for financial services, potentially opening new avenues for digital asset integration within traditional banking frameworks.
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