You didn’t think the banks were going away quietly did you?

Here is the TL:DR on JPMD stablecoin

Is this a stabelcoin? Another version of JPM Coin?

It’s a tokenized deposit token that will live on the Base blockchain! Unlike stablecoins that are supposed to be backed 1:1 with dollars custodied (or other backing like treasuries), the JPMD is going to represent existing deposits at the bank (commercial bank money ).

What’s the difference?

They’re a bank… they don’t have to have it 1:1 backed, they just need the fractional reserves to meet required deposit thresholds meaning it’s a lot more scalable. What else is intriguing? Potential interest payments (yield).

Here we go! Get ready for the stablecoin wars. The only hope is that this coin is on a terrible chain. And we all know blockchains don’t scale!