DBS and Kinexys by JPMorgan are working on a plan to let tokenized bank deposits move between their on-chain systems. The goal is to let customers of the two banks send and receive deposit tokens around the clock, and to make those tokens usable on both permissioned ledgers and public blockchains like Base.

The effort aims to make tokens issued by one bank redeemable through the other bank’s service.

JPMorgan-DBS Team-Up: Interbank Token Flow Becomes A Practical Test

According to an announcement, the project will link DBS Token Services with Kinexys Digital Payments so institutional clients can transfer tokenized deposits and settle in real time.

For example, a JPMorgan institutional client might pay a DBS client using JPMorgan Deposit Tokens (JPMD) on the Base public blockchain ,

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