JPMorgan Rolls Out JPM Coin on Ethereum for Institutional Clients

The significance lies less in the token itself than in the venue: a systemically important bank choosing a public chain over a permissioned one signals that institutional comfort with public-blockchain settlement is shifting. It matters most for rival banks weighing similar deposit tokens and for the permissioned networks that had been the presumed default for regulated finance. Whether other large banks follow onto public infrastructure, and how regulators treat bank-issued tokens there, is the open question worth watching.