Hey, it’s Marc!

Last week, JP Morgan did something it had never done before: it put real bank money on a public blockchain. Not their private network. Not their controlled environment. The actual internet, where anyone can see every transaction.

They called it JPMD—JP Morgan Deposit Token. [Announcement]

What happened:

  • JPMorgan issued a new token called JPMD

  • It represents real deposits held at JPMorgan

  • It runs on Base (Coinbase’s public blockchain)

  • It’s designed for institutional clients

  • Unlike stablecoins, it can offer interest and deposit insurance

Jamie Dimon says JPMorgan Chase is on the hunt for its next big acquisition

Until now, most stablecoins were backed 1:1 by cash and treasuries — but outside the banking system.

It's essentially a digital version of the deposits that customers hold in their accounts.