JPMorgan brings JPM Coin to Ethereum for institutions

JPMorgan has brought JPM Coin, its US dollar deposit token, to Ethereum for institutional clients, adding another public network for onchain payments. The bank announced the move on Monday, October 19, according to The Block’s report on the expansion.

What can clients do with JPM Coin on Ethereum?

JPM Coin represents deposits held at JPMorgan. The token lets institutional clients send and receive those dollars on a blockchain, rather than moving them only through traditional bank payment systems. Bloomberg Law reports that the token can move money in seconds, around the clock, while conventional transfers can take several days and run only during working hours.

The Block reports that the token supports peer-to-peer transfers across the Ethereum Virtual Machine ecosystem, which includes Ethereum and Base. That means clients can transfer JPM Coin between participants on those networks. The bank first launched JPM Coin on Base in November 2025.

Why add Ethereum to the network?

Kinexys by J.P. Morgan said Ethereum has established onchain liquidity and tokenized assets, making it a natural next public blockchain for the token. Tokenized assets are digital records of financial assets on a blockchain. The expansion gives institutional clients another network on which to use JPMorgan deposit balances.

JPMorgan’s move brings a bank deposit token to Ethereum’s main network as well as Base, an Ethereum layer 2 network. Bloomberg Law reported that JPMorgan said the Ethereum version would be available to its institutional clients. The expansion does not make JPM Coin a general-purpose public token: the bank describes it as a service for institutional clients.

How much activity does Kinexys handle?

The Block reported that JPMorgan said its Kinexys platform has processed more than $4 trillion in cumulative transactions, with average daily transaction volume of $7 billion. Those figures cover the platform, not JPM Coin alone.

The Ethereum expansion extends JPMorgan’s use of public blockchains for institutional payments. Clients can now use the token across Ethereum and Base, while the dollar value it represents remains a deposit at JPMorgan.

References

• The Block’s report on the expansion — theblock.co