JPMorgan’s tokenized dollars are quietly rewiring how Wall Street moves money

The Wall Street titan’s recent embrace of a public blockchain is a harbinger of things to come. What to know : The move from a private chain to Coinbase’s Base layer is driven by demand from institutions, JPMorgan said. The only cash equivalent options available in crypto are stablecoins, so there’s a need for a bank deposit product for payments on public chains, according to the Wall Street bank Typically JPM Coin can be used on Base as a means to either keep collateral or make margin payments for transactions related to crypto purchases.