After days of rumors around the identity of the mysterious ‘JPMD’ token filed by JPMorgan, widely supposed to be a stablecoin, the truth has finally emerged.
JPMD isn’t a stablecoin after all – it’s a deposit token on the Base blockchain (Coinbase’s own blockchain).
With JPMD, institutions have a round-the-clock method of making deposits, incorporating established banking systems with blockchain technology. It’s one more step along the path towards crypto as a normal part of everyday life, alongside core crypto projects like Best Wallet token.
Time to learn more about why JPMorgan thinks deposit tokens are part of the future of crypto.
Not a Surprise After All: JPMorgan Champions Deposit Tokens
Perhaps everyone should have guessed what JPMD was. After all, one of the largest banks in the US is hardly likely to do anything without a lot of research and preparation.
And in this case, JPMorgan has been championing blockchain-powered deposit tokens since at least 2022.
That was when the company published an extensive report on the utility and function of proposed deposit tokens. Calling them ‘a foundation for stable digital money,’ JPMorgan outlined a number of core advantages a deposit token could offer to traditional banks:
Digital form of commercial bank money – deposit token fills the role of existing deposit claims- Blockchain-native programmability – with deposit tokens, banks can access smart contracts, an atomic settlement option, and automated processing
- Payment efficiency and cost reduction – on-chain deposit tokens provide real-time transfers; no more waiting for deposits to settle after-hours
- Seamless integration with banking – established use cases, existing support networks, and even clear legal status; there’s little to prevent immediate use of deposit tokens within the current banking infrastructure
That last point is critical. Even while stablecoins draw increased attention, deposit tokens like JPMD hold one clear advantage: they fit neatly into existing rules and regulations.
Trademark Filed, JPMorgan Builds Base for Crypto-Finance Integration
JPMorgan filed the trademark application on June 15, 2025. As it turns out, the deposit token will be built on the Base blockchain and will leverage that chain to provide round-the-clock crypto access for its clients (Coinbase is one).
If JPMD takes off – and it should, since JPMorgan has a market cap of roughly $738B – it could be the next step in the growing conjunction between crypto and finance.
Institutions have led crypto adoption in recent months, but there are growing signs that retail adoption won’t be far behind.
Success in a fully integrated crypto-financial world will rest partly on the power of your crypto wallet. Best Wallet app is a leading non-custodial crypto wallet, and now the Best Wallet Token launch takes the wallet to the next level.
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It’s all part of a growing crypto ecosystem where Best Wallet, Best Wallet Token, and the upcoming Best Card work together to equip you to navigate a brave new crypto world.
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JPMorgan, Best Wallet Show Path Forward for Crypto
Together, the launch of both $BEST and $JPMD highlights the way forward for crypto. Traditional finance and crypto are no longer separate things – they’re two sides of the same coin, and crypto wallets connect them.
Before purchasing $BEST, do your own research. This isn’t financial advice.
