JPMorgan’s Bold Move: New JPMD Token Set to Launch on Base Network

TradingKey – JPMorgan Chase is accelerating asset tokenization, preparing to launch its JPMD deposit token on Coinbase’s Base blockchain.

According to Bloomberg (June 18), JPMorgan (JPM) plans to issue JPMD, a new type of token, on Base, the blockchain network developed by Coinbase (COIN).

In an interview, Naveen Mallela, JPMorgan’s Global Co-Head of Blockchain, stated, “A transaction will take place in the coming days, transferring a fixed amount of JPMD from the bank’s digital wallet to Coinbase Global Inc., the largest U.S. crypto exchange.”

JPMD represents tokenized real-world assets, specifically deposit tokenization, distinguishing it from JPM Coin, JPMorgan’s USD-backed stablecoin launched in 2019.  

- JPMD = Deposit Tokenization (linked to bank deposits)  

- JPM Coin = USD Tokenization (a blockchain-based dollar asset)  

From a user perspective, JPMD functions as a deposit certificate — customers deposit funds at JPMorgan and receive JPMD tokens in return. In contrast, JPM Coin requires users to purchase tokens to hold on-chain USD assets.

JPMorgan’s move aligns with the crypto industry’s long-standing vision: “Everything can be tokenized.” The bank is actively accelerating asset tokenization, engaging in discussions with the SEC’s crypto task force while continuously issuing new tokens.