JP MORGAN CHASE(US:JPM) 智通财经网·2025-11-12 07:01Core Insights - JPMorgan Chase has launched a deposit token called JPM Coin for institutional clients, marking a significant expansion in the financial institution's digital asset strategy [1] - The token allows users to send and receive payments via Coinbase's public blockchain, reducing payment processing time from days to seconds and enabling 24/7 operations [1] - The launch follows a pilot phase involving companies like Mastercard, Coinbase, and B2C2, and JPMorgan plans to expand the token's use to other currencies and blockchains after regulatory approval [1][2] Group 1: JPM Coin and Its Features - JPM Coin represents clients' dollar deposits at JPMorgan, functioning as a tokenized form of existing funds in bank accounts [2] - Unlike stablecoins, which are typically pegged to fiat currencies and backed by high-liquidity assets, deposit tokens are designed for easier circulation through blockchain networks [2] - JPMorgan has registered a trademark for a euro-denominated deposit token, indicating plans for future expansion [1] Group 2: Market Context and Competitors - The launch of JPM Coin aligns with a broader trend among global banks, including Citigroup, Santander, Deutsche Bank, and PayPal, experimenting with digital assets for faster and cheaper payment methods [2] - Other banks, such as Bank of New York Mellon and HSBC, are also exploring or have already launched deposit token services [2] - JPMorgan's Kinexys Digital Payments network processes an average of over $3 billion in transactions daily, while its payment department handles approximately $10 trillion daily [3]