The tokenization wave that Wall Street has been promising for years is no longer a forecast — it's infrastructure. JP Morgan has moved its JPMD deposit token onto a public blockchain, allowing clients to transfer dollar-denominated deposits between themselves in real time. The same institution used Solana — not its own private chain — to settle a corporate debt issuance in Abu Dhabi, with USDC as the settlement currency and Coinbase among the buyers.
The regulatory backdrop is catching up fast. The Clarity Act, crypto's long-awaited market structure bill, has cleared the Senate Banking Committee in a bipartisan vote and now heads to a full Senate floor vote. Key provisions include self-custody guarantees, DeFi safe harbors protecting code publishers and stakers, clearer SEC/CFTC jurisdictional lines, and a pathway for sufficiently decentralized tokens to graduate to commodity status…
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