JPMorgan Unveils JPM Crypto token On Base For Enhanced Institutional Transactions

An increasing number of conventional finance (TradFi) institutions are incorporating blockchain technology into their operations. Leading the way is JPMorgan, which has introduced its own crypto asset, the JPM Coin, on Base (a public blockchain created by Coinbase).

As reported in a Bloomberg article published on November 12, 2025, the launch of JPM Crypto token on Base signifies the first significant occasion in which traditional banks have earnestly begun utilizing public blockchains for actual monetary transfers.

This launch allows institutional clients to send and receive USD payments instantly at any time, without the need to wait for regular banking hours to commence.

BREAKING:

JPMORGAN has just introduced its on-chain deposit crypto token ( $JPM Token) for institutional clients, signifying a significant transition from traditional finance to genuine blockchain solutions.

When the largest bank transitions on-chain… you can anticipate what’s coming next! pic.twitter.com/TATajVhgpe

— Wise Advice (@wiseadvicesumit) November 12, 2025

The token is secured by actual deposits at JPMorgan, providing a safe and regulated means for settling transactions on-chain.

Currently, only verified institutions can utilize JPM Crypto token on Base. However, the banking giant aspires to eventually extend access to its clients, contingent on regulatory approval. The token can also serve as collateral on Coinbase.

This launch enhances JPMorgan’s previous pilot initiatives with Mastercard, Coinbase, and B2C2 and corresponds with a roadmap it shared back in June 2025.

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JPM Coin To Unlock Yield On Tokenized Deposits

Unlike USDT or USDC, which are merely digital representations of the USD, JPM Coin is underpinned by actual funds held in JPMorgan accounts. This means that, contrary to stablecoins that do not generate yields, organizations utilizing JPM Crypto token can accrue interest on their tokenized deposits.

Naveen Mallela, JPMorgan’s Blockchain Head, stated that deposit tokens like JPM Token provide a smart and secure method for institutions to transfere money quickly while remaining within the traditional banking framework. He referred to it as a “practical, yield-bearing alternative.”

J.P. Morgan is migrating banking to the distributed database.

Kinexys by @jpmorgan is unveiling JPMD, a USD deposit token designed for institutional clients, on Base.

This will be the first token of its kind on a public distributed record, facilitating rapid, secure, 24/7 transfers of funds between trusted parties.

— Base (@base) June 17, 2025

The launch also includes a collaboration with DBS Bank to experiment with cross-border payments utilizing tokenized deposits. DBS Bank will leverage JPMorgan’s Kinexys protocol alongside its own token services to facilitate this.

Kinexys is already managing over $3 billion in daily transactions. By transferring some of this activity to Base, JPMorgan aims to potentially elevate the blockchain’s total value locked (TVL) to over $5 billion.

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JPMorgan And DBS Bank Team Up: Deposit Tokens Go Interbank

With the introduction of JPM Coin, numerous other banks have begun to follow the trend. However, there is an issue. Many of these systems operate independently, leading to challenges in transferring tokenized assets between different banks.

This is the gap that JPMorgan and DBS Bank intend to bridge. On November 11, they announced their strategic alliance to create a new protocol that enables deposit tokens to migrate freely between banks.

LATEST: JPMorgan and DBS Bank are establishing a blockchain framework for instantaneous 24/7 transfers between their deposit token ecosystems across both public and private networks. pic.twitter.com/hNPE1lU8jq

— CoinMarketCap (@CoinMarketCap) November 12, 2025

JPMorgan is at the forefront of this initiative. Following JPM Crypto token, it has rolled out JPMD. Both tokens operate on Kinexys but cater to different uses: JPM Crypto token facilitates internal transactions, whereas JPMD addresses a wider range of applications, including interbank payments.

DBS Bank has also developed its own coin, which supports both the USD and Singapore dollar. In a recent trial, Ant International successfully used DBS’s tokens to transfer funds internationally within its operations.

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