[JPMorgan Launches Deposit Token JPM Coin for Institutional Clients] According to a report by Bloomberg, JPMorgan has begun offering a deposit token called JPM Coin to institutional clients, marking the latest move by financial institutions to expand their presence in the digital asset space. The token represents U.S. dollar deposits held by the world's largest bank and allows users to send and receive funds via Base, the public blockchain associated with Coinbase. Naveen Mallela, Global Co-Head of Onyx by JPMorgan's blockchain division, stated in an interview that this enables payments to be completed within seconds and allows for 24/7 processing, as opposed to the traditional delays of several days and restrictions to business hours.