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