JPMorgan expands its deposit token JPM Coin to Ethereum, opening it to institutional clients.

PANews October 19 news, according to Bloomberg, JPMorgan announced that it has launched its deposit token JPM Coin on the Ethereum network, opening it to institutional clients. The token is pegged to U.S. dollar deposits and supports clients in completing transfers and receipts 24/7 in seconds, rather than the several business days previously required. JPM Coin was first launched last year and previously ran on Base, the blockchain associated with Coinbase.