JPMorgan brings JPM Coin to Ethereum for institutions
JPMorgan has deployed its dollar deposit token on Ethereum for institutional clients, giving them another public blockchain for payments and digital asset settlement.
The Chain Times Desk2 min read
JPMorgan has deployed JPM Coin on Ethereum for institutional clients, adding the network as another place they can move bank deposits onchain. The bank’s token represents US dollar deposits, and the expansion gives clients another public blockchain for payments and settling digital asset trades, according to CoinDesk’s report on the Ethereum launch.
The token, whose ticker is JPMD, was technically deployed on Ethereum’s mainnet on Oct. 19, the report says. JPM Coin was already available on Base, an Ethereum layer 2 network built by Coinbase. A layer 2 is a network built on top of a main blockchain.
What can institutional clients do with JPM Coin?
Clients can use the token to send and receive money onchain, according to JPMorgan’s statement cited by CoinDesk. Kinexys Labs head Emma Landriault said crypto firms could use it for blockchain payments, while financial firms could use it to settle trades or back tokenized assets—digital records of assets such as securities.
JPMorgan says JPM Coin can move money in seconds and around the clock. The bank launched it on Base in November 2025. Its availability on Ethereum adds another network for eligible institutional users, but the announcement does not say how many clients are using the token or how much they have transferred.
Why did JPMorgan choose Ethereum?
Landriault said Ethereum offers liquidity and is already used by the bank’s institutional clients. The move lets those clients use JPM Coin on Ethereum as well as Base, giving them a choice of networks for moving wholesale money, according to the bank’s statement reported by CoinDesk.
The expansion extends JPMorgan’s public blockchain work beyond Base. The bank has also said it plans to bring JPM Coin to the Canton Network, CoinDesk reported. JPM Coin remains a deposit token representing money held at JPMorgan; the report does not describe it as a freely available token for retail users.
Sources and documents
- CoinDesk’s report on the Ethereum launch — coindesk.com