TechFlow news, November 12 — According to Bloomberg, JPMorgan Chase has begun rolling out its deposit token called JPM Coin to institutional clients, marking the latest move by the financial institution to expand its digital asset business.
The token represents U.S. dollar deposits at the world's largest bank, enabling users to send and receive funds via Base, a public blockchain affiliated with Coinbase. Naveen Mallela, global co-head of Kinexys, JPMorgan’s blockchain division, said in an interview that this enables payments to settle within seconds and allows 7×24 processing, as opposed to traditional methods that take days and are limited to business hours.
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