JPMorgan Goes On-Chain on Base; BEST Token Presale Reaches $17M
JPMorgan has become the first major bank to execute live dollar settlements on the public Ethereum network via Coinbase’s Base Layer-2 protocol. This on-chain settlement marks a shift from private ledgers, enabling near-instant, 24/7 institutional transfers. By launching its JPM Coin deposit token on-chain, JPMorgan streamlines on-chain settlement and forges new compliance workflows. Initial pilot transactions with Mastercard, Coinbase, and B2C2 have completed in seconds, signaling growing institutional support. Meanwhile, the Best Wallet Token (BEST) presale has surpassed $17 million at $0.025935 per token, offering up to 77% staking rewards and early access to token launches. Best Wallet’s non-custodial mobile app integrates a DEX aggregator, multi-chain swaps, and reduced fees to prepare for an on-chain payments ecosystem. As public-chain settlement gains traction, wallet-centric tokens like BEST could see increased demand, reinforcing infrastructure growth across Ethereum Layer 2 networks.
Bullish
This development is bullish because JPMorgan’s move to settle real-dollar transactions on Base confirms growing institutional confidence in public-chain infrastructure. Historically, bank-led on-chain pilots (e.g., real–world asset tokenization) have driven network usage and positive price momentum for associated tokens. The $17 million presale success of Best Wallet Token underscores rising demand for wallet-centric utilities. In the short term, traders may reallocate capital towards ETH, Base-native tokens, and wallet tokens like BEST, seeking gains. Over the longer term, increased on-chain settlement by major financial institutions can strengthen Layer 2 ecosystems, boost liquidity, and expand use cases for crypto wallets, supporting sustained growth in related markets.