JPMorgan held a meeting with the SEC to discuss the transfer of the Capital Market on-chain.

Gate News bot message, according to a report released by the SEC on Tuesday, JPMorgan executives discussed the "potential impact of migrating existing capital market activities to public blockchain" with the SEC— including which areas of existing models might change and how companies assess the risks and benefits of these changes.

The two groups also discussed JPMorgan's existing "business footprint" in the crypto space, including its current digital platform for handling repurchase agreements — repurchase agreements are a form of short-term borrowing in the financial markets and fall under its "digital financing" and "digital debt services" products.

JPMorgan also assessed where it could explore "competitive angles"—seeking to achieve faster and cheaper transactions through Blockchain while opening up new revenue streams via tokenized assets to maintain its leading position.

On the occasion of talks between JPMorgan and the SEC, the company announced a pilot program for token deposits on Tuesday, where the bank will launch the deposit token JPMD on Coinbase's Blockchain Base.

After the pilot is completed, Coinbase's institutional clients will be able to trade using JPMD, and the pilot is expected to last for several months.