COINOTAG News reports that JPM Coin (JPMD) has migrated from the internal permissioned chain Kinexys to Base, Coinbase’s Ethereum Layer 2 network. The transition aims to better serve institutional clients seeking scalable on-chain payments, collateralization, and margin settlement capabilities across digital asset workflows.

JPMD is a permissioned token designed to move only among whitelisted users, reinforcing precautionary controls. By integrating with Base, the bank signals a market shift toward on-chain tools backed by traditional bank deposits rather than broadly circulating cash equivalents on public ledgers.

The move highlights a disciplined approach to crypto liquidity tooling, where tokenized deposits can function as collateral or margin payments within regulated settlement rails, while preserving whitelist governance and risk controls essential for institutional adoption.