JPMorgan Dollar price

🚨Why is JPMorgan launching its own stablecoin JPMD?🚨 @jpmorgan’s launch of $JPMD, a stablecoin on OP Stack , marks a pivotal moment for institutional blockchain adoption. Leveraging @base’s robust infrastructure, JPMorgan is positioning itself to tokenize assets from retail savings to corporate debt, seamlessly integrating TradeFi with DeFi’s potential. Their permissioned L2 aims for efficiency, though it risks mirroring legacy systems with added compliance layers, think SWIFT with smart contracts. Yet, the move signals a broader trend: TradFi embracing blockchain’s scalability and programmability. With OP Stack’s modular framework, $JPMD could unlock $394M in annual revenue, a calculated bet on tokenized markets. Meanwhile, the crypto ecosystem thrives on duality - decentralized innovators pushing boundaries and institutions like 🌐 JPMorgan building controlled sandboxes This convergence is blockchain’s next chapter: a fusion of Wall Street’s precision and crypto’s audacity. As @ethereum powers the backbone, JPMD’s launch proves the space is maturing, inviting both suits and degens to shape finance’s future. #JPMD #Blockchain #DeFi

Base just saw massive inflows from Ethereum. After the news that JPMorgan is launching a JPMD, a tokenized dollar deposit on Base. They’re piloting real money transfers > including to Coinbase on a public blockchain.

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#web3 Legal Roundup 🗞️ 🇺🇸 U.S. Senate passes GENIUS Act bill 🇹🇭 Taxes for #crypto exempt in Thailand 🇮🇷 @NobitexMarket hacked for $81M 🏦 @JPMorgan files $JPMD trademark 🗃️ @CoinSharesUS file for $SOL ETF 🤔 @Coinbase seeks SEC approval to trade tokenized stocks for US customers

JPMorgan’s JPMD Token: Same Old Bank, New On‑Chain Wrapper Yesterday’s pilot of JPMD, JPMorgan’s dollar deposit token on Coinbase’s Base chain, is being pitched as an innovation. But peel back the gloss, and what you get is business-as-usual—just dressed in on-chain branding. Let’s be clear: this isn’t a stablecoin. It’s a digitized bank IOU with all the same embedded risks—and fees—of traditional banking. Fractional reserve still applies: JPMorgan isn’t issuing JPMD 1:1 against segregated reserves like stablecoins backed by Treasuries (e.g. USDC or USDT). Instead, it's a tokenized deposit, subject to the same fractional reserve practices that failed banks in recent history. Fee structure unchanged: Don’t expect cheaper remittances or democratized access. JPMorgan will likely still charge its customary fees for deposit services. The token simply adds a Base network transaction fee on top. Programmability for whom? Certainly not for the average retail user. So far, this is a tool for JPMorgan’s institutional clients, running in a permissioned walled garden. Not a Stablecoin—and That’s the Point By sidestepping the stablecoin label, JPM avoids oversight typically applied to non-bank issuers (e.g. audits, transparency rules, or capital ring-fencing). But that also means: - No real-time attestations - No 1:1 reserve disclosures - No retail issuance model This isn’t a USD alternative. It’s a centralized bank balance dressed up in ERC-20 clothing. Fails to Do What Matters: In a widely shared tweet, former Soros CIO Scott Bessent summed it up: “JP Morgan’s new stablecoin isn’t even a stablecoin. It’s just their bank deposits on chain. - No new market for U.S. Treasuries. - No change to fees. - No change to risks. Nothing innovative.” This hits the mark. No treasury demand: Unlike regulated stablecoins (e.g. Circle), which drive billions in daily demand for U.S. Treasuries, JPMD does nothing to expand the sovereign debt market. No risk reduction: There’s no de-risking from systemic banking exposure. In fact, JPMD compounds single-institution counterparty risk. No interoperability: Operating on a permissioned layer of Base, JPMD isn’t accessible to the broader DeFi ecosystem—blocking out composability. While JP Morgan's whitepaper touts “programmability” and “24/7 transferability,” there’s no disruption to JPMorgan’s established cost structure: Fees remain: JPMorgan will likely continue charging its normal deposit and transaction fees. The whitepaper does not state that deposit tokens reduce fees. Network costs added: Users must pay Base chain gas fees—unless the bank covers them (likely for institutional clients only). In short: Blockchain doesn’t lower costs—it merely layers on traditional fees with on-chain transaction charges. Bottom Line: JPMD isn’t the future of money—it’s a white-labeled bank account running on a blockchain. It preserves JPMorgan’s control, revenue model, and systemic exposure while using crypto rails for settlement polish. - For institutions? It’s convenient. - For innovation? It’s inert. - For retail? It's irrelevant, so far ... Until tokens like JPMD offer real yield alternatives, treasury demand growth, or systemic safeguards, they remain what they are: banking as usual—this time, just on-chain.