JPMorgan To Transfer Tokens to Coinbase
JPMorgan representatives announced plans to transfer a set quantity of JPMD tokens from the bank’s digital wallet to Coinbase Global. This move is aimed at institutional clients who can now use these deposit tokens for transactions through Coinbase’s platform.
Token Issuance on Base Blockchain
The issuance and movement of the tokens will occur on Base, a public blockchain linked to Coinbase. These tokens are denominated in US dollars. Following this transfer, institutional clients at Coinbase can leverage these deposit tokens for various financial operations.
Pilot Program and Future Plans
JPMorgan intends to run this pilot program for several months before considering its expansion to other users and currencies, subject to regulatory approvals. The company highlights that deposit tokens offer an advanced alternative to stablecoins for institutional clients due to their reliance on fractional banking, which allows for greater scalability.
In the future, these deposit tokens might become interest-bearing and insured, setting them apart from current stablecoins.
Market Impact
Amidst this development, JPMorgan Chase (JPM) shares experienced a 0.4% drop during late Tuesday trading sessions, while Coinbase (COIN) saw its stock fall by 3.1%. Additionally, Bitcoin (BTC-USD) declined by 1.5%, closing at USD 105.2 K.
Other JPMorgan Developments
In June 2025, JPMorgan joined forces with Conferma, a provider of virtual card technology. Through this partnership, businesses in the EU can now issue and manage virtual cards more effectively within JPMorgan’s Payments Partner Network.
This collaboration enables multi-currency capabilities and offers greater flexibility, facilitating modernization of payments throughout Europe as demand for faster and more secure payment solutions continues to rise.
According to Conferma’s Growth Ignition Index Report, 88% of businesses are currently using or planning to use virtual cards due to their recognized value.
