J.P. Morgan launches deposit tokens for institutional clients, enabling round-the-clock trading and instant payments.

JPMorgan Chase has started introducing a deposit token called JPM Coin to institutional clients, as financial institutions continue to expand their presence in the digital assets field. This token represents US dollar deposits in this global bank, and users can make payments and receive funds through the public blockchain Base associated with Coinbase Global Inc., said Naveen Mallela, co-head of JPMorgan's blockchain department Kinexys, in an interview. Using this token, payment processing time is reduced from several days to just seconds, and transactions can take place 24/7, no longer restricted to business hours.