JPMORGAN'S TOKENIZED DOLLARS ARE REWIRING HOW WALL STREET MOVES MONEY

Summary from the TLDR Crypto newsletter

JPMorgan moved its JPM Coin deposit token (“JPMD”) from its permissioned Ethereum setup on Kinexys onto Coinbase's Base, saying institutions want a bank-deposit “cash equivalent” on public chains where the main option today is stablecoins. The near-term use case is collateral plus margin payments tied to crypto trading (e.g., clients posting collateral at Coinbase), with JPM emphasizing permissioning/whitelisting and strong controls (it controls the smart contract and keys).