JPMorgan Launches USD Deposit Token on Base Network
JPMorgan Launches USD Deposit Token on Base Network
🏦 Wall Street Goes Crypto
JPMorgan is launching Kinexys, a USD-backed deposit token on the Base network, marking a significant development in institutional finance.
Key points:
- JPMD token will be available exclusively to approved institutional clients
- Offers sub-second, sub-cent transaction capabilities
- Enables near-instant settlement and real-time liquidity
- Aims to transform traditional banking settlement times from days to seconds
This initiative represents one of the first major steps by a global banking leader to bring traditional finance operations fully onchain, potentially setting a precedent for institutional adoption of blockchain technology.
Base is for global capital markets Kinexys by @jpmorgan is piloting a USD-backed deposit token on Base to power instant, low-cost payments for institutional clients A major step in bringing traditional finance fully onchain paragraph.com/@base/jpmorgan…
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