JPM CoinJPMD
JPMD, issued by JPMorgan Chase Bank, N.A., is a U.S. dollar-denominated deposit token that represents a digital claim on a commercial bank deposit held within J.P. Morgan's regulated banking infrastructure and settled on a public blockchain network. Each JPMD token represents one U.S. dollar (USD) of deposits held in J.P. Morgan bank accounts, maintaining a 1:1 parity to USD through the Blockchain Deposit Account (BDA) framework. Holders may redeem JPMD for USD at any time through the BDA with no lock-up period, subject to a three-hour maintenance window from 3:00 to 6:00 PM EST every Saturday. U.S. branch deposits are FDIC-insured up to applicable limits; deposits in non-U.S. branches of JPMorgan Chase Bank, N.A. carry no FDIC coverage. JPMorgan Chase Bank, National Association is a national banking association chartered by the Office of the Comptroller of the Currency (OCC) and is a member of the Federal Reserve System. JPMD represents a general deposit liability of JPMorgan Chase Bank, N.A.; holders hold a deposit claim rather than a bearer instrument or fund interest. Access to JPMD is restricted to approved, vetted institutional clients of J.P. Morgan that satisfy applicable know-your-customer (KYC) and anti-money laundering (AML) requirements. All JPMD transfers are subject to transaction monitoring and screening requirements applied across J.P. Morgan. JPMD is issued on Base, the Ethereum Layer 2 blockchain. Clients mint JPMD by depositing USD into a Blockchain Deposit Account and converting those funds onchain; redemption reverses the process, returning USD to the deposit account. Settlement occurs near real-time, 24 hours a day, seven days a week, with a three-hour maintenance window on Saturdays.