So, guess what? JP Morgan, you know, that little bank that’s basically a financial octopus, is diving into the crypto pool with its very own token! 🐙💰
Yes, you heard it right! They’ve filed for a blockchain-related trademark, because why not? Who doesn’t want to add “crypto” to their résumé? According to Bloomberg (the gossip column for finance nerds), they’re launching something called JPMD. Sounds fancy, right? It’s basically a digital version of your dollar deposits. Because, obviously, we needed another way to complicate our lives! 🙄
Now, hold onto your wallets! This shiny new token will be deployed on Base. Naveen Mallela, the global co-head of the bank’s blockchain division (a title that sounds like it was made up in a sci-fi movie), says they’ll be moving a fixed amount of JPMD from their digital wallet to Coinbase. You know, the biggest US crypto exchange. Just a casual transaction expected to take days. No pressure! ⏳
And here’s the kicker:
“The token […] will be denominated in dollars.” Wow, groundbreaking! So, Coinbase’s institutional clients can use these deposit tokens for transactions. The bank plans to run this pilot for several months, because who doesn’t love a good test run? And then, if the regulators give a thumbs up (because they’re the ultimate party poopers), they might expand to other users and currencies. Fingers crossed! 🤞
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2025-06-17 22:11