JPMorgan is launching JPM Coin on Coinbase’s Ethereum Layer 2 blockchain Base 👀
Here's what to know:
- Unlike stablecoins, deposit tokens are digital claims on existing bank funds and can be interest-bearing, offering a new option for institutional investors.
- Allows payments to settle in seconds, anytime, around the clock, rather than taking days and being restricted to business hours, and follows a months-long trial involving major players like Mastercard, Coinbase, and B2C2
- The coin will be accepted as collateral on Coinbase
- Other banks, such as Bank of New York Mellon and HSBC, are also developing similar deposit token solutions
- “We think that stablecoins get a lot of buzz, for institutional clients, deposit-based products offer a compelling narrative"
The entire world continues to adopt Ethereum as the chain of choice 🔥
Here's what to know:
- Unlike stablecoins, deposit tokens are digital claims on existing bank funds and can be interest-bearing, offering a new option for institutional investors.
- Allows payments to settle in seconds, anytime, around the clock, rather than taking days and being restricted to business hours, and follows a months-long trial involving major players like Mastercard, Coinbase, and B2C2
- The coin will be accepted as collateral on Coinbase
- Other banks, such as Bank of New York Mellon and HSBC, are also developing similar deposit token solutions
- “We think that stablecoins get a lot of buzz, for institutional clients, deposit-based products offer a compelling narrative"
The entire world continues to adopt Ethereum as the chain of choice 🔥
• • •
Missing some Tweet in this thread? You can try to
force a refresh
