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JPMorgan Nears New Era in Digital Finance with Blockchain-Based Deposit Token

JPMorgan is reportedly close to entering a new era of digital finance, with a deposit token built on blockchain in the final stages of development. The product will initially target corporate clients, aiming to speed up settlements and payments. Unlike stablecoins, the deposit token will be issued by a depository institution and will allow transactions with other banks. Regulatory approval is still required before the product can be rolled out.

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