JPMorgan Deploys JPMD Deposit Token on Base Layer-2 for 24/7 Settlement

JPMorgan has launched JPMD, a deposit token backed by FDIC-insured balances, on Coinbase's Ethereum layer-2 network Base. Pilot transactions with B2C2, Coinbase, and Mastercard are now operational. The token enables JPMorgan clients to settle wholesale dollar transfers instantly at any hour, removing dependencies on traditional Fedwire banking schedules.