JPMorgan has officially launched its deposit token, JPM Coin, for institutional clients, according to Bloomberg. The token, representing bank dollar deposits, enables 24-hour real-time transfers via the Base blockchain, associated with Coinbase. Initial participants in the pilot include Mastercard, Coinbase, and B2C2. JPMorgan plans to extend JPM Coin usage to downstream clients and expand to other currencies and blockchain networks upon regulatory approval. The bank has also registered the trademark JPME for a euro-denominated token. Coinbase will accept JPM Coin as collateral.