According to @CoinMarketCap, JPMorgan has completed a proof-of-concept for a JPM Coin deposit token that represents existing bank deposits on Base and is designed to enable institutional clients to make on-chain payments (source: CoinMarketCap tweet, Nov 12, 2025). The announcement details that the deposit token structure ties to existing bank deposits and targets institutional payment flows on-chain, marking a concrete step in bank-grade tokenized deposit rails on Base that traders can track for subsequent rollout updates (source: CoinMarketCap tweet, Nov 12, 2025).