JPMorgan Expands JPM Coin to Ethereum for Institutions

JPMorgan has expanded its dollar deposit token, JPM Coin, to the Ethereum blockchain, giving approved institutional clients another network for transferring deposits while keeping access restricted to vetted participants. Kinexys by JPMorgan announced the expansion on October 19. The token, also identified as JPMD, first launched on Base in November 2025. With Ethereum added, JPM Coin supports transfers among approved users on both networks, which are compatible with Ethereum software, according to the bank. JPM Coin represents dollars held in JPMorgan accounts, rather than an investment fund or a stablecoin issued by a nonbank company. Kinexys says eligible clients can transfer the token around the clock, outside ordinary banking hours. Access remains limited: the bank’s product materials describe transfers between approved participants, not open use by retail customers or unrestricted trading on decentralized finance platforms. The move places the payment token on a network where financial assets have also been tokenized. JPMorgan has launched two tokenized money-market funds on Ethereum, in December 2025 and May 2026. But the network expansion does not establish that...