Traditional Banking Institutions Moving Onchain
Originally published on Paragraph.
The Financial System is Moving Onchain
To build a global economy, Base is committed to bringing financial assets onchain – enabling faster, cheaper, near-instant settlement on onchain rails.
Today, money still moves through closed systems like ACH, SWIFT, and Fedwire. These networks were not built for programmability or real-time operations – often taking days, introducing friction, and resulting in capital sitting idle. Onchain infrastructure changes that. By using Base, institutions can move capital globally in seconds, for less than a cent.
Moving Assets on Fast, Cheap, Secure Onchain Payment Rails
To take advantage of these global onchain payment rails, J.P. Morgan launched a USD-backed permissioned deposit token on Base called JPMD through Kinexys by J.P. Morgan. These are USD-denominated and backed 1:1 by deposits – combining the programmability of onchain finance with the trust and compliance that regulated financial institutions require. It’s specifically designed to allow J.P. Morgan institutional clients to move money onchain – 24/7, instantly, securely, at a fraction of a cent.
J.P. Morgan is the latest addition to the growing list of 200+ global financial institutions that Coinbase's Crypto-as-a-Service platform supports. These institutions – including banks, brokers, fintechs, and payment providers – leverage the platform to build crypto-powered products for custody, trading, tokenization, and payments.
Base is for Global Capital Markets
Onchain capital is here. It’s faster, more liquid, always available, and being built on Base. We’re unlocking a new class of financial tools, such as:
- Real-time settlement of institutional payments and treasury flows
- Onchain liquidity management and cash positioning
- Programmable payouts, lending, and credit infrastructure
- Seamless global reconciliation and reporting
As more institutions bring assets to Base, the onchain global economy is becoming real. J.P. Morgan and traditional financial institutions moving onchain is a major leap forwards towards one of our key strategic pillars for 2025: “Base is for markets.” The more assets and liquidity we bring to Base, the faster we’ll build the global onchain economy – with better, faster, cheaper, and more secure payment rails for money movement.
J.P. Morgan’s deposit token (JPMD) is a permissioned product designed exclusively for eligible institutional clients and is not available to retail or individual consumers. Availability is limited to qualified institutional participants.