JPMORGAN INTRODUCES USD DEPOSIT TOKEN ON BASE

Summary from the TLDR Crypto newsletter

JPMorgan has launched a pilot of its permissioned USD deposit token, JPMD, on Coinbase's Base L2. It is positioned as an alternative to stablecoins for institutional clients, offering 24/7 settlement and trading. This is the first use of the Kinexys DLT platform on a public blockchain. JPMorgan also filed a trademark for a broader crypto platform under the JPMD brand, insinuating deeper crypto ambitions.