J.P. Morgan is bringing banking onchain. Kinexys by @jpmorgan is launching JPMD, a USD deposit token for institutional clients, on Base. It will be the first token of its kind on a public blockchain, enabling fast, secure, 24/7 money movement between trusted parties.

JPMD is a permissioned bank deposit token, issued by J.P. Morgan, and will be available exclusively to approved institutional clients. J.P. Morgan chose Base to take advantage of sub-second, sub-cent transactions for their clients, giving institutions access to near-instant settlement and real-time liquidity. Moving money should take seconds, not days. Commercial banking is coming onchain.