06:50 AM EST, 11/12/2025 (MT Newswires) -- JPMorgan Chase ( JPM ) has introduced JPM Coin deposit token to institutional clients, Bloomberg reported late Tuesday, citing Naveen Mallela, global co-head of the bank's blockchain division Kinexys, as saying in an interview.

The new coin represents dollar deposits and lets clients send and receive money through Coinbase Global's ( COIN ) Base blockchain, the report said, citing Mallela.

JPMorgan ( JPM ) also plans to expand the coin offering to clients of its clients at a later stage and to other currency denominations, pending regulatory approval, Mallela told Bloomberg, adding that it also intends to expand the offering to other blockchains.

The JPMD Coin pilot plan was first revealed in June and the bank has trademarked the ticker JPME for a potential future rollout of a euro-denominated deposit token, the news outlet said, citing Mallela.

JPMorgan ( JPM ) did not immediately respond to MT Newswires' request for comment.

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