The American banking giant JPMorgan announced the pilot of an authorized USD deposit token called JPMD on the base, the Ethereum network of layer 2 built by the Coinbase Coinbase (corner).
Earlier this week, the bank filed a brand request for a platform focused on the crypto named JPMD, designed to offer services such as negotiation, exchange, transfer and payment services for digital assets, as well as the issuance of digital assets.
The JPMD focused on the institution, an alternative to stablecoins for bank customers, marks the first deployment of the technology studio from the big book distributed Kinexys de JPMorgan on a public blockchain, according to a press release.
Banks and other corporate players are looking into the stable space in advance on the rules that have soon ended around the dollar tokens in the US JPMorgan have attracted a lot of attention to its so-called JPM piece, a token to settle the trades in its private blockchain, then called the Digital ONYX active ingredients.
“We are delighted to see one of the most eminent banks in the world standing at the base,” said Jesse Pollak, basic creator and engineering vice-president in Coinbase. “Base offers a colony of subsecond, underground and 24/7, which makes funds between the institutional customers of JP Morgan almost instantly. Coinbase is a proud institutional customer of JP Morgan, and this pilot combines the credibility of JP Morgan and the base to help bring institutional money in a more global economy. ”
