Financial Giant JPMorgan To Launch USD-Backed Deposit Token on Base As Coinbase’s Layer-2 Scaler Rolls Out Support for Cardano and Litecoin

The banking titan JPMorgan is piloting a US dollar-backed permissioned deposit token on the Ethereum (ETH) layer-2 scaling solution built by the American crypto exchange Coinbase. In a statement, Coinbase says that JPMorgan is launching the token called JMPD on Base through its blockchain business unit Kinexys. source: https://dailyhodl.com/2025/06/27/financial-giant-jpmorgan-to-launch-usd-backed-deposit-token-on-base-as-coinbases-layer-2-scaler-rolls-out-support-for-cardano-and-litecoin/