Summary
- JPMorgan announced the pilot launch of the permissioned USD deposit token JPMD on the Ethereum (ETH) Layer 2 network Base (BASE).
- JPMD is the first example of applying Kinexys distributed ledger technology to a public blockchain and is designed to support digital asset trading, exchange, transfer, and payment services.
- The Vice President of Engineering at Base emphasized that this pilot will combine the credibility of JPMorgan and Base to support the globalization of institutional funds.
Global financial firm JPMorgan has announced a pilot operation of the permissioned USD deposit token JPMD on Ethereum (ETH) Layer 2 network Base (BASE).
According to a CoinDesk report on the 18th (local time), JPMorgan stated, "JPMD is the first case of applying Kinexys distributed ledger technology to a public blockchain and is designed to provide services such as trading, exchange, transfer, and payment of digital assets, as well as the issuance of digital assets."
Jesse Pollak, Vice President of Engineering at Base, emphasized, "We are very pleased that one of the world's most renowned banks is participating on-chain. This pilot project combines the credibility of JPMorgan and Base to help institutional funds evolve into a more globalized economy."
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