JPMorgan Launches Tokenized USD with JPM Coin on Coinbase Base

JPMorgan has officially rolled out its JPM Coin dollar deposit token on Coinbase Base, the Ethereum layer-2 network, enabling institutional clients to conduct near-instant, 24/7 USD settlements on-chain. By leveraging Base’s low transaction fees and Ethereum’s security, the bank bridges traditional finance and DeFi, streamlining cross-border payments and boosting liquidity. The launch builds on a pilot with Mastercard, Coinbase and B2C2, and signals a strategic move toward broader adoption of tokenized USD as an alternative to stablecoins. JPMorgan also plans to introduce a euro-denominated version under the JPME trademark, pending regulatory approval. Major banks like DBS are exploring similar deposit tokens to simplify interbank transactions. This deployment accelerates JPMorgan’s digital asset strategy and may drive increased transaction volume on Base.