US bank giant JPMorgan has announced the pilot for a allowed USD -DePositum Doken called JPMD on the base, Layer 2 Ethereum network built by Listed Exchange Coinbase (Coin).
Earlier this week, the bank filed a trademark application for a cryptophocused platform named JPMD, designed to offer services such as trade, exchange, transfer and payment services for digital assets and the issuing of digital assets.
The institution -focused JPMD, an alternative to stableecoins for the bank’s clients, marks the first implementation of JPMorgan’s Kinexy’s distributed Ledger Technology Studio on a public blockchain, according to a press release.
Banks and other corporate players pull into the stableecoin space ahead of soon-to-be-land rules around the dollar-peg-tokens in the American JPMorgangan received plenty of attention for his so-called JPM coin, a token to run the cash bone of trades on his private blockchain, then called for digital assets.
“We are pleased to see that one of the world’s most prominent banks is coming onchain,” said Jesse Pollak, creator of Base and VP for Engineering at Coinbase. “Base offers subcutists, undercent, 24/7 settlement that makes fund transfers between JP Morgan Institutional Clients almost immediately. Coinbase is a proud JP Morgan Institutional Client, and this pilot combines the credibility of both JP Morgan and Base to help bring institutional money into a more global economy.”
