JPMorgan Expands JPM Coin to Ethereum

JPMorgan made its JPM Coin deposit token available on Ethereum on October 19, extending the service to another public blockchain for approved institutional clients. The move adds Ethereum mainnet to the token’s existing availability on Base, while keeping access restricted to institutions vetted by the bank. Known as JPMD, the token represents U.S. dollar deposits held at JPMorgan, rather than an investment fund or a freely circulating stablecoin. Eligible clients can use it for peer-to-peer transfers, including outside ordinary banking hours, according to the bank. The October expansion does not make JPMD available to retail customers or all users of Ethereum. JPM Coin first became available to institutional clients on Base in November 2025. With Ethereum added, approved users can transfer the deposit token across both networks, which support Ethereum-compatible software. JPMorgan cited Ethereum’s existing liquidity and activity involving tokenized assets as reasons for adding the network. Emma Landriault, global head of Kinexys Labs, described potential uses that include payments by cryptocurrency firms and financial-institution transactions involving tokenized assets. Those...