The parameters of the bank’s beachhead are clear: JPMD is a permissioned token that is only transferable between whitelisted parties, i.e. the clients that have been onboarded to the JPM Coin platform.Beyond just meeting rising customer demand, there’s another, perhaps more cynical way of looking at banks’ embrace of crypto and crypto-adjacent products: banks are mounting a defense, staking out some onchain territory for their deposit-taking businesses in the face of a rapidly expanding stablecoin universe ...