JPMD-USDDeposit TokenBank Deposit Liability
United StatesSelf-reported
United StatesSelf-reportedKinexys Digital Payments — USD Deposit Token
J.P. Morgan· New York, United States
- Outstanding balance
- $1.65B
- 0D change
- -
- Yield · Target distribution
- 3.85%
- NAV
- 1.0000
- Expense ratio
- 0.00%
- Minimum
- $10.0M
- Redemption
- Intraday
- Launched
- 01 Oct 2019
Field coverage 88%Primary-source or on-chain verified 33% of tracked metrics1/2 source documents analyst-verifiedLast reconciled 17 Sept 2026
Overview
What this product is
Not a stablecoin and not a fund: a tokenized claim on a commercial bank deposit, settling between accounts at the same bank on a permissioned ledger. It carries bank credit risk rather than reserve risk, and it is the incumbent banking system's answer to stablecoin settlement — which is why its volume matters more than its outstanding balance.
- Underlying asset
- A commercial bank deposit claim on the issuing bank
- Asset class
- Deposit Token
- Product structure
- Bank Deposit Liability
- Legal structure
- Bank Deposit Liability
- Issuer jurisdiction
- United States
- Fund domicile
- United States
- Base currency
- USD
- Launched
- 01 Oct 2019
Peer set
Comparable products
Products in the same asset class and currency. Yields are quoted on different bases, so check each one before comparing.
| JPMD-USDthis product | 3.85% | 0.00% | $10.0M | $1.65B |
| CTS-USD | 3.72% | 0.00% | $5.0M | $780.0M |
Issuer
Who runs it
J.P. MorganNew York, United States
Operator of the longest-running institutional blockchain platform, focused on tokenized deposits, intraday repo and collateral mobility rather than fund issuance.
Portfolio
Composition
- Deposit liability of the issuing bank100.0%