JPMorgan brings JPM Coin deposit token to Ethereum

JPMorgan brought its dollar-denominated deposit token JPM Coin (JPMD) to Ethereum for institutional clients on Monday, Oct. 19, extending onchain transfers across Ethereum and Base, The Block reported, citing a statement from Kinexys by JPMorgan.

What can clients do with JPM Coin on Ethereum?

The token supports peer-to-peer transfers within the Ethereum Virtual Machine ecosystem, which includes Ethereum and Base, according to Kinexys. JPMD represents JPMorgan bank deposits on a public blockchain and lets institutional clients make onchain payments, the bank’s website says, according to The Block.

Kinexys said Ethereum’s onchain liquidity and tokenized assets made it a natural next public blockchain for JPMD. JPM Coin first launched on Base in November 2025, The Block reported.

How does the token fit into JPMorgan’s blockchain business?

JPMorgan describes JPMD as a deposit token, rather than a general-purpose cryptocurrency. The expansion gives institutional clients another network for moving the bank’s dollar deposits onchain while retaining peer-to-peer transfers within the EVM ecosystem.

Kinexys said its platform has processed more than $4 trillion in cumulative transactions and averages $7 billion in daily transaction volume. Those figures cover the platform overall, not JPM Coin alone.

What happens next for JPM Coin?

The Ethereum expansion is now announced, and the token supports transfers across Ethereum and Base, according to Kinexys. The statement cited by The Block names no further rollout date or next milestone.

References

• The Block reported — theblock.co