JPMD is a deposit token developed by JPMorgan as an institutional alternative to stablecoins, representing commercial bank money on-chain.

Quotes that support claims

Bloomberg reported on Tuesday afternoon that JPMorgan is piloting “a token called JPMD that represents dollar deposits at the world’s biggest bank, as financial institutions deepen their push into the digital asset sector.” The move comes just two days after the institution filed a trademark application for digital asset services.

JPMD is a “permissioned” deposit token that will digitally represent commercial bank holdings.