JPMorgan Chase debuts its blockchain deposit token on Base, Coinbase’s Ethereum layer-2 network, enabling 24/7 institutional payments in seconds.
JPMorgan Chase has officially launched its blockchain-based deposit token, JPM Coin (JPMD), on Base, the Ethereum layer-2 network developed by Coinbase. The rollout, announced on Nov. 12, marks a significant collaboration between the largest US bank and the largest US crypto exchange.
According to Base’s official post on X, the proof of concept for JP Morgan’s USD deposit token, JPMD, is now available for transfers on Base. The team also noted that the token could see commercial banking transactions executed within seconds, not days.
From proof of concept to fully live.
J.P. Morgan’s USD deposit token, JPMD, is now available for institutional transfers on Base.
Moving money should take seconds, not days. Commercial banking is coming onchain. pic.twitter.com/cW6tMPLvsw
— Base (@base) November 12, 2025
JPMorgan and Coinbase Unite to Transform Institutional Payments
The JPM Coin token represents US dollar deposits held at JPMorgan and allows institutional clients to conduct 24/7, near-instant payments using blockchain rails instead of traditional clearing systems. The launch follows JPMorgan’s earlier pilot program with Mastercard, Coinbase, and B2C2, which tested interoperability between banks and blockchain ecosystems for settlement efficiency.
JPMorgan’s blockchain unit, Onyx, designed the system to streamline cross-border payments and liquidity transfers, leveraging Ethereum’s smart contracts.
On Nov. 11, JPMorgan announced a separate partnership with DBS Bank to pilot tokenized deposit transfers, further signaling its intent to expand blockchain integration across global financial networks.
The bank is also developing a euro-denominated version (JPME), pending regulatory approval in the European Union. Global Head of the global co-head of JPMorgan’s blockchain division Kinexys, Mallela Naveen confirmed a trademark “JPME” filing for the potential euro-denominated token.
Today @Coinbase is announcing our decision to leave Delaware and reincorporate in Texas. This decision was not made lightly, but we’ll always do what’s best for our customers, our employees, and our shareholders. 1/6
— paulgrewal.eth (@iampaulgrewal) November 12, 2025
Meanwhile, Coinbase revealed plans to shift its legal incorporation from Delaware to Texas following shareholder approval. Chief Legal Officer, Paul Grewal said the exchange aims to capitalize on Texas’s pro-business regulatory environment and greater legal protections for corporate entities.
Best Wallet Presale Approaches $17 M as Institutions Accelerate Crypto Adoption
As recent moves by JPMorgan and Coinbase deepen Bitcoin BTC $87 765 24h volatility: 0.5% Market cap: $1.75 T Vol. 24h: $15.62 B adoption in global payments, speculative traders are eyeing early-stage projects like Best Wallet (BEST) for the next bull market cycle.
Best Wallet Presale
Best wallet offers secure storage, staking rewards, and integrated multi-chain access, combining self-custody and passive income opportunities.
Having already raised $16.9 million, at $0.26 per token, prospective participants now have less than 48 hours to secure BEST tokens via the official Best Wallet website before the next price tier unlocks.
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