JPMorgan Shakes Up Finance: JPM Coin Goes Live in Bold Blockchain Power Move

Wall Street's trillion-dollar whale dives into crypto waters—banks tremble.

JPMorgan just flipped the script. No more 'blockchain, not bitcoin' waffling—the banking giant's JPM Coin is live, marking the most aggressive institutional crypto play since Bitcoin's inception.

The subtext? Jamie Dimon's 180-degree pivot from crypto critic to disruptor-in-chief.

How it works: Instant settlement for institutional clients, 24/7. No more waiting for SWIFT's Stone Age rails. The kicker? It runs on a private blockchain—because even revolutionaries love their walled gardens.

Market impact: Expect copycat moves from Citi to Goldman Sachs within 18 months. The real surprise? JPMorgan moved faster than the SEC could draft another regulation-by-enforcement memo.

Closing thought: When banks adopt crypto tech faster than they adopt Zelle fraud protections, you know the game's changed. Bonus jab: Dimon will still probably call Bitcoin 'worthless' at next year's Davos panel—between sips of blockchain Kool-Aid.

Pilot program and expansion plans

JPMorgan first announced plans for JPMD, the ticker for JPM Coin, in June, outlining an early pilot of blockchain-based tokens that represent bank deposits. A euro version of the deposit token, under the trademark JPME, has already been registered.

The coin is currently being tested with institutional partners, including Mastercard, Coinbase, and B2C2. The bank plans to expand access gradually, starting with clients of its institutional customers and later adding other currencies after regulatory approvals.

Mallela said deposit tokens may provide a more familiar and regulated framework for institutional clients that need blockchain-based payment options. 

Deposit tokens in banking

Deposit tokens are digital versions of bank deposits that can MOVE on blockchain networks. They are different from stablecoins, which private companies issue and back with assets like cash or bonds. Unlike stablecoins, deposit tokens can also earn interest from the bank deposits they represent.

Other global banks, including BNY Mellon and HSBC, are also exploring and testing deposit token models. JPMorgan’s blockchain network, Kinexys Digital Payments, already processes more than $3 billion in transactions each day, compared with the roughly $10 trillion handled daily through its conventional payment systems.

The rollout expands JPMorgan’s work in blockchain technology at a time when major banks and corporations, including Citigroup, Banco Santander, Deutsche Bank, and PayPal, are testing digital asset systems aimed at improving payment speed and reducing costs.

Regulation shapes the landscape

JPMorgan’s move to roll out JPM Coin comes at a time when the U.S. is tightening its rules around digital money. In July, President Donald TRUMP signed the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act), which is a clear framework for stablecoins and other blockchain-based payment tokens.

Under the new law, issuers must meet stricter standards for holding reserves, being transparent about their assets, and gaining approval to operate. For established banks like JPMorgan, which already follow tough regulatory rules, this creates a clearer path to launch blockchain-based products within existing laws.

Meanwhile, private stablecoin issuers could face more limitations, which might shift the balance in favor of regulated banks looking to develop their own digital money systems.

Also Read: JPMorgan and DBS to Launch 24/7 Cross-Bank Token Payments