CoinMeta data: JPMorgan’s JPM Coin has been launched on Ethereum, allowing its largest customers to transfer dollars as quickly as on Tuesday mornings on Sunday evenings. Normal wire transfers between banks are only possible during business hours and can take several days to be credited, so JPMorgan has begun to experiment with blockchain technology. JPM Coin is a type of deposit token, where each unit represents one dollar deposited into a JPMorgan account, and customers can exchange it at any time without any lock-up period. In contrast, stablecoins are tokens backed by reserves held by private companies and pegged to the dollar. Only approved counterparties can hold JPM Coin, so these are not tokens that anyone can buy on exchanges. JPMorgan is deploying this token for the first time on the Base network, which is a cheaper and faster network built on top of Ethereum and is incubated by Coinbase. The bank also plans to launch a shared, 24/7 tokenized deposit network in the first half of 2027.