News about ETHUSDT

JPMorgan will make JPM Coin, a token representing its dollar deposits, available to institutional clients on Ethereum, according to Bloomberg. The bank says Ethereum's liquidity makes it attractive to crypto companies seeking blockchain payments and to financial firms settling trades or backing tokenized assets. The move extends JPMorgan's blockchain work beyond Base and its private Kinexys network, which processes more than $7 billion daily. The bank did not say when the token will go live on Ethereum. Meanwhile, JPMorgan is among US banks planning a shared tokenized deposit network, but it was not on Swift's list of 17 banks preparing live transactions on its blockchain ledger in July.

JPMorgan is bringing its USD-denominated deposit token, JPM Coin (JPMD), to the Ethereum mainnet for institutional clients, extending its push into blockchain payments. The token, which represents US dollar deposits at the bank, was first launched last year on Base and lets clients send and receive money in real time, 24/7. Emma Landriault, global head of Kinexys Labs, described the move as further convergence between Wall Street and crypto, with banks moving onto public chains and crypto firms partnering with traditional institutions. JPMorgan already has tokenized money market funds MONY and JLTXX on Ethereum, and it now adds a cash leg. Ether traded near $2,434 after a rebound, with trading volume up 42% over 24 hours.

Ethereum rose 66% in the third quarter, its best quarter since 2021, while the S&P 500 gained 2% amid global uncertainty. Still, ETH is down 37% over five years, while an S&P 500 index fund with dividends reinvested would have returned 85%, so it would need to gain a lot to catch up. The article argues one strong quarter doesn't justify overbuying, though owning some makes sense since Ethereum hosts $147.9 billion in stablecoins and $17 billion in tokenized real-world assets. The chain collected $354,748 in fees over the 24 hours ending Oct. 14, and its Glamsterdam upgrade, live on a test network since Oct. 6, is slated for mainnet in the fourth quarter.