JPMorgan Chase piloted JPMD deposit token on the Base Chain, bringing commercial deposits on the chain for the first time According to Bloomberg, JPMorgan Chase announced that it will pilot the issuance of JPMD token on the public chain Base associated with Coinbase, representing US dollar deposits. The first transfer will be completed within a few days and is only open to institutional clients. JPMD is scalable and may support interest calculation and deposit insurance in the future, and is considered a compliant alternative to stablecoins.