JPMorgan is expanding its deposit token JPM Coin to the public Ethereum blockchain, allowing eligible institutional clients to transfer funds and settle transactions around the clock. JPM Coin represents a claim on dollars deposited with JPMorgan, not an independently issued stablecoin. The bank maintains control over institutional access and compliance, unlike an open-to-everyone system. This expansion enables moving collateral and settling transactions against tokenized assets, reducing delays between asset and cash legs. It represents a significant development showing traditional finance adopting public blockchain infrastructure without abandoning its existing controls.
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