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JPMORGAN pilots deposits the distinguished code for JPMD on the basic Coinbase network

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JPMorgan Chase continues in the Blockchain ecosystem, where the financial institution chooses the basic network for the newly launched deposit symbol, JPMD.

The experimental program was confirmed by Naveen Malleda, an executive official in the Blockchain section of JPMorgan, Kinexys, who was told Bloomberg A fixed amount of JPMD codes will be transferred to Crypto Excination Coinbase in the coming days.

Transport will be facilitated through Blockchain layer 2 of Coinbase, the base, which It was launched in 2023 She currently has the largest market share between Ethereum Layer-2S, according to Coingecko.

Malema said that the transaction will be resisted in US dollars, with additional currencies support after granting organizational approval.

*The total value of the foundation (TVL) has multiplied more than twice the past year. source:* *Devilia*.

Upon completion of the experimental phase, which is expected to pass for several months, Coinbase’s founders will be able to reach JPMD for transactions, according to Malleda.

Deposit symbols “superior” on stablecoins

The experimental test was announced after days Jpmorgan’s request for a brand for JPMDWhich has identified a set of encryption services, including digital asset trading, transfers and payment processing.

The distinctive symbols of deposit are specifically deposits in dollars held in customer bank accounts. Unlike Stablecoins – the digital representations of the FIAT currency supported by cash and cash rewards – the distinctive symbols of deposit in the traditional banking framework work.

“From an institutional point of view, the deposit symbols are a superior alternative to Stablecoins,” Malleda Bloomberg told Malleda Bloomberg, noting that fracture reserve support makes it more developing.

The Executive Authority noted that JPMD could pay benefit in the future, which distinguishes it Most stablecoinsWhich usually does not generate the return.

However, Stablecoins, which carries the return of the return, may gain momentum over time, as some of those familiar with the industry indicate that the powerful American bank lobby “panic” Its ability to disrupt traditional financial models.

*Austin Campbell says that the stand -carried Stablecoins can disrupt traditional banking services. source:* *Austin Campbell*

According to sources close to the banking lobby, Professor of New York University Austin Campbell said that banking executives are afraid to be “harmful” due to the appearance of pregnant Stablecoins.