JPMorgan brings JPM Coin to Ethereum for institutions

More than $4 trillion in cumulative transactions have passed through JPMorgan’s Kinexys platform, and the bank is bringing its JPM Coin deposit token to Ethereum for institutional clients. That gives eligible clients another public network for moving dollar deposits onchain and settling payments.

JPM Coin, which trades under the ticker JPMD, represents US dollar deposits held at JPMorgan Chase. The bank’s announcement, reported by The Block, says the token supports peer-to-peer transfers across the Ethereum Virtual Machine ecosystem, including Ethereum and Base.

What changes for JPM Coin users on Ethereum?

Institutional clients can now use JPM Coin on Ethereum as well as Base, according to Kinexys by JPMorgan. The expansion brings the bank’s deposit token to Ethereum’s public network, where clients can transfer it to one another onchain.

JPMorgan first launched JPMD on Base in November 2025. The new network option extends that setup: a tokenized bank deposit can move within the Ethereum Virtual Machine ecosystem, whose compatible networks include both Base and Ethereum.

Bloomberg Law reports that JPM Coin is designed to let clients send and receive money in seconds and at any time, rather than waiting several days for transfers limited to working hours. The bank’s announcement also describes the token as supporting peer-to-peer payments between institutional clients.

Why did JPMorgan choose Ethereum?

Kinexys said Ethereum’s established onchain liquidity and tokenized assets made it a natural next public blockchain for JPMD. Liquidity refers to how readily an asset can be transferred or used in transactions; tokenized assets are financial or other assets represented on a blockchain.

For you as a crypto market observer, the move shows a major bank extending a deposit product across public blockchain networks. The announcement concerns institutional clients and JPMorgan deposits. It does not describe a retail launch or make JPM Coin a general-purpose payment token for all Ethereum users.

Emma Landriault, global head of Kinexys Labs at Kinexys by J.P. Morgan, said in the statement that tokenized infrastructure is already changing liquidity, settlement and digital asset workflows. The bank framed Ethereum as an additional venue for institutional money movement, building on JPM Coin’s existing availability on Base.

How large is JPMorgan’s existing blockchain operation?

Kinexys has processed more than $4 trillion in cumulative transactions and averages $7 billion in daily transaction volume, according to the announcement cited by The Block. Those figures cover the platform’s activity, not JPM Coin alone.

The Ethereum expansion also follows JPMorgan’s tokenized money-market fund launches on that network. The Block reported that the bank launched its first such fund in December 2025 and a second in May 2026. The bank’s statement positions those deployments alongside JPM Coin’s move to Ethereum as part of its broader onchain work.

The announcement does not specify a date when every institutional client will be able to use JPM Coin on Ethereum, nor does it publish transaction limits or fees for the new network. For now, the confirmed change is network availability: JPMD supports transfers within the EVM ecosystem, including Ethereum and Base.

Sources

• The Block — theblock.co