JPMorgan launches JPM Coin on the Base blockchain

Previously, JPM Coin operated only within the bank’s private Onyx network, launched in 2020. The move makes the token a more flexible tool for corporate transactions and international settlements.

JPM Coin is a deposit token backed by clients’ real bank deposits. It enables instant transfers, securities settlements, and corporate payments, cutting transaction times from hours to seconds.

JPMorgan said the system now processes more than $1 billion in daily transactions, including settlements with major corporations and investment funds. Launching on Base allows integration with external partners and financial platforms already using Coinbase’s infrastructure.

Base, built on Ethereum Layer-2, provides high transaction speeds and low fees, making it ideal for enterprise use. JPMorgan noted that the integration with a public network remains fully compliant, as all tokens are backed by deposits held within the bank.

Tyrone Lobban, head of Onyx Digital Assets, called the move to Base a natural step toward interoperability between private and public blockchains. He added that the bank plans to extend the technology to tokenize financial instruments such as short-term debt and commercial deposits.

Earlier, JPMorgan tested blockchain settlements on Polygon under Project Guardian – an initiative launched with Singapore’s Monetary Authority.

The launch of JPM Coin on Base reinforces JPMorgan’s position as a frontrunner among traditional banks in digital assets. The bank continues to expand its blockchain strategy, betting on tokenization and decentralized finance as the foundation of next-generation payment systems.