JPMorgan brings JPM Coin, representing dollar deposits, to Ethereum

JPMorgan brings JPM Coin, representing dollar deposits, to Ethereum

Özet: Kripto piyasasında önemli gelişmeler yaşanıyor.

bank, brought its almost year-old crypto token, JPM Coin, to Ethereum as part of a plan to expand beyond Base, the layer-2 blockchain built by Coinbase Global COIN$172.14.

JPM Coin, which represents dollar deposits at the bank, was technically deployed on the Ethereum mainnet on Monday and is available for institutional clients’ use, the bank said in an emailed statement.

The bank chose Ethereum because the blockchain offers more liquidity than rival networks and is already used by institutional clients, Emma Landriault, the head of Kinexys Labs at JPMorgan’s blockchain division Kinexys, said in an interview with Bloomberg, which reported the news earlier.

“Issuing JPM Coin first on Base and now on Ethereum is a meaningful step towards providing our institutional clients with multi-chain optionality for moving wholesale money across both the web3 and traditional finance ecosystems,” she said in the emailed statement.

The banking giant flagged a move outside Base back in January, saying it was planning to take the token to the Canton Network.

Broadening its availability aims to serve crypto firms that want to make blockchain payments and financial firms that need a digital token to settle trades or back tokenized assets, Landriault said.

Tokenization is the process of converting real-world assets and financial assets into a digital form that’s recorded and traded on a decentralized ledger.

The advantage is speed, including faster settlement of trades, quick movement of money while bypassing delays and frictions involved in traditional rails.

Banks have embraced tokenization, but mostly away from public networks.

Analiz: Piyasa hareketliliği devam ediyor.