JPMorgan has launched its US dollar deposit token, JPM Coin (JPMD), on the Ethereum blockchain, allowing institutional clients to move money faster and carry out transactions directly on the network.
The launch was announced by Kinexys, JPMorgan’s blockchain division, and marks another step in the bank’s efforts to bring traditional financial services onto public blockchains.
JPM Coin was already available on Base, an Ethereum Layer 2 network. With the addition of Ethereum’s main network, institutional clients now have more options to transfer funds, manage payments, and settle digital asset transactions.
Ethereum is one of the largest blockchain networks and supports a wide range of digital assets, including tokenized real-world assets (RWAs). By bringing JPM Coin to Ethereum, JPMorgan aims to make it easier for financial institutions to access US dollar funds directly on the blockchain.
Unlike traditional stablecoins, JPM Coin is a deposit token backed by US dollar deposits held at JPMorgan. It is designed for institutional clients rather than everyday retail users.
The token allows approved institutions to transfer money directly between digital wallets, potentially reducing settlement times and simplifying transactions. It could also support automated payments and help businesses manage their funds more efficiently.
Emma Landriault, Global Head of Kinexys Labs at JPMorgan, said the expansion reflects the growing role of blockchain technology in financial services. She explained that launching JPM Coin on both Base and Ethereum gives institutional clients greater flexibility to move money between traditional finance and blockchain-based systems.
The expansion also follows JPMorgan Asset Management’s earlier launch of tokenized money market funds on Ethereum, highlighting the bank’s growing involvement in blockchain-based financial products.
JPM Coin first launched in November 2025 as a US dollar deposit token for institutional clients.
According to JPMorgan, its Kinexys platform has processed more than $4 trillion in transactions since its launch and now handles an average of $7 billion in daily transaction volume.
The latest expansion shows how major banks are increasingly using public blockchain networks to support faster payments, digital asset trading, and financial transactions.
As institutional interest in tokenized assets continues to grow, JPMorgan’s move could help connect traditional banking services with the expanding blockchain economy.
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