Wall Street is Embracing On-Chain Solutions

Here's another update about the big players diving into crypto for adoption and to make some cash. JPMorgan's tokenized dollars are now being transferred through Coinbase's Base network instead of their private chain. So, essentially, the funds are moving over a public layer 2 while still being within the banking framework. What are your thoughts on this?

This move will give JPM coin some form of formal access to the wider market,  unlike the close internal  chain the coin were issued before, although JPM is much different from cryptocurrency tokens its more of bank issued note, not like stablecoin, but haven't being serving their internal payments and settlement for some years as a financial institution now, there is a demand and need to move the coin to public blockchain which Coinbase is one among L2 networks that offers seamless banks settlement services of businesses.

I think that this news was from a year or two ago, when I've read it. This is in favor of JPM and that's why they're about to do that. They are seeing the demand on it and they're now acting upon based on that demand that they're receiving. It's a good collab with Coinbase since both companies are known in the US. Coinbase made it easier for them to do their things now as they go public for their own blockchain.

Yeah, good news. Jp Morgan was launching 100m tokenized fund in ethereum blockchain last days, and now they're willing to issue their own stable on Base. So they're welcoming blockchain to be a part of their investment. This means more money inflow to the market, which is good. The more wallstreet giant is opening themselves to the crypto, the more liquidity. Hopefully, we will have more money to come.

The only issue I have is a nitpick toward bigger players filling up the gaps where people would use their services instead of doing things themselves, thus, securing their custody more. Imagine when every big party will promote - their - way with crypto which in any shape of form will be about themselves, not about their customers or users..

Yep, that's what I was thinking, in the same vein, I mean.

Traffics demands triggered the necessity of this development and chain migration, the old chains their coin was hosted limited the operation and space of coverage of their market, but with this on-chain migration, market exposure is sure expected for the company since many other customers can now have access instead of the old ways where only listed companies get access to the Morgan coins

We can't please those users if they like their services. Us here know what's better for us and doesn't add them. There are investors who like and trusts them more than themselves in terms of investing and that's why they are still their go-to place and that's why they keep on managing other people's asset and they do their thing for them. Right, they have more access because of it. But let's hope that most of their investors or users or however we call them will start to learn it by themselves that there's a better way of doing things rather than JPM doing it through their own chain and coin.

Also, another piece of these actions (as far as I know) is the programmability: treasuries would be able to plug smart contracts for cash sweeps, collaterals, you name it, which legacy rails could never do properly.. This may make said tools and services more convenient and better for the users...But this usability and care would be mostly in these bank gardens, as I would call them.