JPMorgan's Tokenized Dollars are Changing Wall Street.

A New Era on Wall Street

JPMorgan stated that the transition from a private blockchain to Coinbase's Base layer is driven by institutional demand. The only cash equivalent options currently available in the cryptocurrency space are stablecoins. This situation indicates a need for a bank deposit product for payments on public blockchains.

JPM Coin can be used as a tool to hold collateral on Base or to make margin payments related to cryptocurrency purchases. These developments may herald a significant transformation in the financial services sector.