JPMorgan Brings JPM Coin to Ethereum for Institutions

JPMorgan made JPM Coin available to institutional clients on Ethereum on Oct. 19, extending its dollar deposit token to another public blockchain, according to CoinDesk’s report on the launch. The token, whose ticker is JPMD, represents U.S. dollar deposits held at the bank.

What does the Ethereum deployment let clients do?

The deployment puts JPM Coin on Ethereum’s mainnet for institutional client use. JPMorgan described the move as a way to give clients more choice across blockchain networks for moving wholesale money between digital asset markets and traditional finance, CoinDesk reported, citing a bank statement.

The launch extends JPM Coin beyond Base, the Ethereum layer-2 network built by Coinbase. JPMorgan first launched the token in November 2025, CoinDesk reported. The bank has also discussed taking it to Canton, a separate blockchain network.

Why did JPMorgan choose Ethereum?

Ethereum offers more liquidity than rival networks and is already used by institutional clients, Emma Landriault, head of Kinexys Labs, told Bloomberg, according to CoinDesk. Kinexys is JPMorgan’s blockchain division. The bank’s stated aim is to let institutional clients use the deposit token across more of the networks where they operate.

JPMorgan’s private Kinexys network processes more than $7 billion in transactions a day, CoinDesk reported. Ethereum adds a public network to the bank’s existing blockchain options, while JPM Coin remains limited to institutional clients. The Ethereum deployment is live; CoinDesk’s report did not give a date for a wider rollout.

References

• CoinDesk’s report on the launch — coindesk.com