- Bank pilots on‑chain settlement with Chainlink and Base
- Deposit token JPMD launched, paving way for digital asset integration
What happened: JPMorgan pushes for faster merger of traditional and decentralised finance
JPMorgan’s blockchain team said the gap between traditional finance and decentralised finance may disappear soon. Nelli Zaltsman, head of blockchain payments innovation at Kinexys, revealed plans at the RWA Summit in Cannes in early July. She said the bank is testing on‑chain settlement systems for institutional clients.
Zaltsman described the approach as asset agnostic with real‑time access to multiple blockchains. JPMorgan recently completed pilot tests with Chainlink and Base, enabling cross‑chain synchronized settlements. That lets JP Morgan deposits move instantly across different networks under one system. The bank also introduced the “JPMD” deposit token on Base. This token stays within the bank system but works onchain. Chainlink’s Sergey Nazarov called this a key example of how big banks can link traditional capital with digital asset markets.
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Why it’s important
This step marks a shift in how banks view DeFi integration. Banks can now offer real‑time transactions with blockchain‑grade security. It removes friction between onchain and offchain assets. Investors gain access to digital markets while the bank holds deposits.
The JPMD token may boost onchain liquidity for institutional funds. The enabled cross‑chain infrastructure could push other banks to follow. It points to faster payments, easier tokenisation, and new trading tools. This may make blockchain finance safer and more robust. As regulation evolves, traditional finance institutions may now actively use onchain systems. This pilot may become a model for global fintech evolution.
Meta description:
JPMorgan pilots DeFi–TradFi convergence with Chainlink settlement and Base-based JPMD deposit token to merge institutional banking and blockchain.
Category: Fintech, Blockchain, Banking
Tags: JPMorgan, DeFi, TradFi, blockchain, JPMD, Chainlink, Base
Focus keyphrase: JPMorgan DeFi TradFi convergence
