JPMorgan Adds Ethereum Support for JPM Coin
JPMorgan has brought its JPM Coin deposit token to Ethereum, giving institutional clients another EVM network for peer-to-peer transfers alongside Base.
The Today Crypto Editors
JPMorgan made its dollar deposit token JPM Coin available to institutional clients on Ethereum on Monday, Oct. 19, adding a public blockchain for clients to move bank deposits onchain. The bank first launched the token on Base in November 2025, according to The Block’s report.
The expansion gives eligible institutions another network for moving JPMorgan deposits through blockchain-based financial workflows.
What does JPM Coin represent?
JPM Coin, ticker JPMD, represents U.S. dollar deposits held at JPMorgan. It is a deposit token: clients can make peer-to-peer transfers using a digital representation of their bank deposits, rather than transferring the token as a claim on a separate reserve.
The token is now supported within the Ethereum Virtual Machine ecosystem, which includes both Ethereum and Base. That gives institutional clients access to JPM Coin on either network, while keeping the token tied to deposits at JPMorgan.
What changes for institutional clients?
Clients gain Ethereum as an additional network for using JPM Coin. JPMorgan has described the move as offering “multi-chain optionality” for wholesale money, according to CoinDesk’s report.
In practice, the token is intended for institutional payment and settlement activity. Kinexys Labs head Emma Landriault told CoinDesk that the wider availability is aimed at crypto firms seeking blockchain payments and financial firms that need a digital token to settle trades or support tokenized assets. The expansion does not make JPM Coin a public retail payment option; the announced availability is for institutional clients.
JPMorgan’s announcement did not specify fees, onboarding steps or which institutions qualify. Clients considering a transfer will need to confirm access and operating terms with the bank; the report does not give a public pricing schedule.
Why did JPMorgan add Ethereum?
JPMorgan cited Ethereum’s established onchain liquidity and tokenized assets as reasons for choosing the network, The Block reported. Landriault also told CoinDesk that the bank sees Ethereum’s liquidity and existing institutional use as a fit for JPM Coin.
The expansion extends the token beyond Base and JPMorgan’s private Kinexys network. Kinexys had processed more than $4 trillion in cumulative transactions and averaged $7 billion in daily transaction volume, The Block reported. That scale gives context for the bank’s wider blockchain activity, but JPMorgan has not published a transaction target for JPM Coin on Ethereum.
Sources
- The Block’s report — theblock.co
- CoinDesk’s report — coindesk.com