JPMorgan's Tokenized Dollars are Changing Wall Street

A New Era on Wall Street

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

JPM Coin can be used as a tool for holding collateral on Base or making margin payments related to crypto purchases. These developments may signal a significant transformation in the financial services sector.