JPMorgan to Pilot Deposit Token JPMD on Coinbase-Linked Blockchain
JPMorgan Chase & Co. will launch a pilot for a token called JPMD that represents dollar deposits at the world's biggest bank, as financial institutions deepen their push into the digital-asset sector.
In a transaction expected to take place within days, JPMorgan will move a fixed amount worth of JPMD from the bank's digital wallet to the biggest US crypto exchange, Coinbase Global Inc., Naveen Mallela, global co-head of the bank's blockchain division Kinexys by JPMorgan, said in an interview.
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