JPMorgan’s Ethereum move could open tokenization to smaller banks, Brickken CEO says

JPMorgan Chase is considering its options for a potential public stablecoin but has no current plans to issue one. JPMorgan Chase ’s tokenized US dollar deposit, JPM Coin, is going live on Ethereum after first launching on Base, the Coinbase -backed layer 2 network, nearly a year ago. The expansion challenges the idea that banks must use private blockchains to meet compliance requirements, according to Edwin Mata, CEO and co-founder of Brickken. Commenting on the move, he said compliance depends on how blockchain technology is implemented and that public networks could give banks greater opportunities to integrate with lending platforms, collateral management systems and other financial services.

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