Coinbase’s Base Blockchain Hosts J.P. Morgan’s Kinexys Deposit Token JPMD

J.P. Morgan's blockchain division, Kinexys, has launched a permissioned US dollar deposit token named JPMD on the Base blockchain, marking a significant step toward institutional adoption of blockchain-based financial instruments. The token is designed to offer a regulated alternative to stablecoins, with Security Token Market's COO Jason Barraza highlighting its potential impact. This development underscores the growing convergence of traditional finance and decentralized technologies, with Coinbase's Base blockchain playing a pivotal role in facilitating institutional-grade digital asset solutions.

J.P. Morgan's Kinexys Unveils Deposit Token on Base Blockchain

J.P. Morgan's blockchain division, Kinexys, has introduced a permissioned US dollar deposit token, signaling a potential shift toward institutional adoption of blockchain-based financial instruments. The token, referred to as JPMD, operates on the Base blockchain and aims to provide a regulated alternative to stablecoins.

Security Token Market's COO Jason Barraza noted the trademark filing for JPMD, emphasizing its potential to become a default institutional tool. Unlike stablecoins, which rely on pooled reserves, deposit tokens represent commercial bank money issued by licensed institutions, offering seamless integration with traditional banking rails.

A joint report by Oliver Wyman and Kinexys delineates the distinctions between deposit tokens, stablecoins, and central bank digital currencies (CBDCs). Deposit tokens, built on distributed ledger technology, could accelerate mainstream digital asset adoption by bridging legacy finance and blockchain ecosystems.

Circle Stock Surges as Senate Passes Stablecoin Bill, Boosting Crypto Sector

Circle's stock (CRCL) soared 20% on Friday following the U.S. Senate's approval of the GENIUS Act, a regulatory framework for stablecoins. The bill's progress has fueled a 60% weekly gain for CRCL and an astonishing 500% rally since its June 5 public debut. Coinbase (COIN) also benefited, leveraging its revenue share from Circle's USDC reserves.

Market Optimism persists despite the bill requiring House approval. Stablecoins are gaining traction among institutional players, with major corporations like Amazon, Walmart, and Apple reportedly exploring proprietary implementations. The GENIUS Act promises to streamline payments while addressing regulatory clarity under the Trump administration's crypto policies.

Coinbase Becomes First U.S. Crypto Exchange Licensed Under EU’s MiCA Rules

Coinbase has secured a landmark Markets in crypto Assets (MiCA) license from Luxembourg’s financial regulator, marking the first authorization for a U.S.-based exchange under the EU’s new framework. The approval grants Coinbase passporting rights across all 27 member states, consolidating its European operations under a single regulatory regime.

Luxembourg’s progressive stance on blockchain innovation—evidenced by four dedicated laws—made it the natural choice for Coinbase’s new regional hub. The MOVE from Ireland reflects strategic positioning within a jurisdiction offering clearer crypto-specific guidelines.