J.P. Morgan Expands JPM Coin to Ethereum as Banks Test Tokenized Finance
Photo: TokenPost
J.P. Morgan made JPM Coin available to institutional clients on Ethereum on Oct. 19, expanding the dollar deposit token beyond Base as banks develop ways to use digital assets in settlement and financing. The Ethereum rollout gives institutional clients another network for JPM Coin. It is separate from a BNY-Citadel Securities Treasury repo workflow that connected tokenized settlement to overnight borrowing. In the workflow announced Oct. 13, Citadel bought a two-year U.S. Treasury note through BNY using Tradeweb. BNY recorded a tokenized representation of the note on its private digital ledger, where the representation settled within minutes.
Source: TokenPost
