JPM Coin (JPMD) is a stablecoin exclusively for interbank use.
The token is built on Base, a second layer of Ethereum.
A group of Argentine banks is already participating in tests with JPM Coin (JPMD), the token created by JP Morgan that maintains price parity with the US dollar.
Maximiliano Cohn, CIO of CMF bank (one of the participants in these tests), accurate in statements to iProUP that in this first phase Banks are working on the integration of services to verify improvements in settlement times and interbank reconciliation.
The tests are carried out “without money, with compensation in a traditional way, but the registration of the operations is done with on-chain technology,” according to Cohn.
The stated objective is implement closed-loop distributed ledger technology —only between participating institutions— to reduce costs and improve operational speed. Cohn indicated that, once the trial period is refined, banks will be able to offer greater security and better times in both their own operations and those of their clients.
In dialogue with the aforementioned information portal, Diego Kupferberg, Taquion analyst, highlighted that JPM Coin’s goal is to reduce operational frictionmaking “international transfers more efficient.” This is with “less intermediaries, less cost and less time.”
JPM Coin differs from “general public” stablecoins such as Tether USD (USDT) or USD Coin (USDC). The token created by JP Morgan is for exclusive use by banking entities and is backed by funds that the entities own. It can only be operated by partner banks.
Regarding the tests in Argentina, there is still no official information indicating which banks are participating, in addition to CMF. From iProUP it is pointed out: “in the sector they speculate that Galicia, BIND and Comafi are also in the game.”
As CriptoNoticias has reported, JPM Coin was launched in November 2025. The token is developed on Basea second layer of Ethereum created by the American exchange, Coinbase.