JPMorgan Chase will pilot the issuance of JPMD tokens on the Base chain, marking the first time commercial deposits are brought on-chain

ChainCatcher news, according to Bloomberg, JPMorgan announced that it will pilot the issuance of the JPMD token on the Coinbase-associated public chain Base, representing dollar deposits. The first transfer will be completed in a few days and will only be available for institutional clients. JPMD is scalable and may support interest and deposit insurance in the future, seen as a compliant alternative to stablecoins.