JPMorgan Rolls Out Deposit Token JPM Coin in Digital Asset Push

JPMorgan Chase & Co. has started rolling out a deposit token called JPM Coin to institutional clients, a move that comes as financial institutions continue to broaden their footprint in digital assets.

The token — which represents dollar deposits at the world’s largest bank — allows users to send and receive money via Coinbase Global Inc.-affiliated public blockchain Base, Naveen Mallela, global co-head of the bank’s blockchain division Kinexys, said in an interview. This enables payments to process in seconds and 24/7, rather than in days and during working hours.

The launch follows a trial period for JPM Coin ...