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JPMorgan brings JPM Coin to Ethereum for institutional clients

JPMorgan has brought its dollar deposit token to Ethereum, adding a second public-chain option for institutional transfers and expanding access to onchain liquidity.

Blockfront Editorial

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JPMorgan brings JPM Coin to Ethereum for institutional clients

JPMorgan brought its US dollar deposit token JPM Coin (JPMD) to Ethereum for institutional clients on Monday, Oct. 19, adding the network as a place to make onchain transfers. The Block’s report on the announcement says JPMD supports peer-to-peer transfers across Ethereum and Base, where the token first launched in November 2025.

What can institutional clients do with JPMD on Ethereum?

JPMD represents US dollar deposits held at JPMorgan, according to the bank’s description cited by The Block. The token enables institutional clients to make payments onchain; adding Ethereum gives them another network for those transfers.

The bank said the token supports peer-to-peer transfers within the Ethereum Virtual Machine ecosystem, which includes Ethereum and Base. The announcement does not specify a launch date beyond saying the token is now on Ethereum, or name the clients that can use it.

Why did JPMorgan choose Ethereum?

Kinexys by JPMorgan cited Ethereum’s existing onchain liquidity and tokenized assets as reasons for adding the network, according to The Block. The expansion extends JPMD beyond Base, an Ethereum layer-2 network where the bank made the token available to institutional clients in November 2025.

JPMD is a deposit token rather than a claim on an external reserve: it represents deposits at JPMorgan. The bank’s move puts an institutional payment token on Ethereum’s public network, where it can transfer between participating clients’ wallets.

What happens next?

JPMorgan said its Kinexys platform has processed more than $4 trillion in cumulative transactions and averages $7 billion in daily transaction volume. The bank did not disclose a target for JPMD’s use on Ethereum or announce additional network launches.

For now, the confirmed expansion is to Ethereum alongside Base, with JPMD available to institutional clients for peer-to-peer transfers within the EVM ecosystem.

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