PANews reported on December 18th that, according to CoinDesk, JPMorgan Chase has deployed its digital deposit token, JPM Coin, on Coinbase's Base blockchain, marking the Wall Street giant's first large-scale integration into a public blockchain ecosystem. Unlike stablecoins, JPM Coin is a digital mapping of interest-bearing bank deposits, with transfers limited to whitelisted users. This move responds to institutional clients' demand for on-chain bank deposit products, currently primarily used for collateral and margin payments in crypto trading. JPM emphasizes that its deployment method features complete access control and risk isolation, reflecting the shift of traditional finance towards DeFi.