JPMorgan is launching its USD-backed deposit token, JPM Coin (JPMD), on Ethereum, according to the supplied material. The bank had already brought JPMD to the Base blockchain last year.
The token is described as institution-focused. Despite the word “coin” in its name, JPMD serves as a unit of account for tokenized transfers.
JPMorgan is characterized in the material as an early adopter of digital assets and as being positioned to build on its substantial infrastructure.