Financial Giant JPMorgan To Launch USD-Backed Deposit Token on Base As Coinbase’s Layer-2 Scaler Rolls Out Support for Cardano and Litecoin

Altcoin | June,27 2025
The banking titan JPMorgan is piloting a US dollar-backed permissioned deposit token on the Ethereum (ETH) layer-2 scaling solution built by the American crypto exchange Coinbase. In a statement, Coinbase says that JPMorgan is launching the token called JMPD on Base through its blockchain business unit Kinexys. “These are USD-denominated and backed 1:1 by deposits—combining […]
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