- JPMorgan is expanding its JPM Coin deposit token to Ethereum, extending its blockchain payment services beyond Base.
- JPM Coin represents U.S. dollar deposits at JPMorgan and is available only to approved institutional clients.
- Kinexys has processed more than $4 trillion in cumulative transactions, with average daily transaction volume of $7 billion.
JPMorgan Chase is expanding its dollar deposit token, JPM Coin (JPMD), to the Ethereum blockchain, giving institutional clients another network for moving money and settling transactions around the clock.
Kinexys, JPMorgan’s private blockchain network, said on October 19 that Ethereum was a natural next step because of its established on-chain liquidity and growing range of tokenized assets. JPM Coin first launched on Base, an Ethereum Layer 2 network, in November 2025. The latest expansion allows the token to support peer-to-peer transfers across the Ethereum Virtual Machine ecosystem, including Base and Ethereum.
JPM Coin represents U.S. dollar deposits held at JPMorgan. Unlike a stablecoin issued by a crypto company, it is a bank-issued deposit token that operates within the bank’s existing deposit framework. Access is restricted to approved institutional clients, rather than being available to anyone with a crypto wallet.
Ethereum Expansion Targets Faster Financial Settlements
The move is designed to help institutions transfer funds and manage transactions involving digital assets without relying entirely on traditional banking schedules. JPM Coin supports near-real-time payments and can be used in on-chain settlement workflows, including transactions involving tokenized financial assets.
Ethereum’s existing ecosystem of tokenized assets and blockchain-based financial services gives JPMorgan another route to connect its banking services with digital markets. The expansion also follows the bank’s broader push into tokenization. JPMorgan Asset Management launched its second tokenized money market fund on Ethereum in May 2026.
Kinexys has processed more than $4 trillion in cumulative transactions, with average daily transaction volume of $7 billion, according to the bank’s latest figures reported on Monday. Those figures cover the broader Kinexys platform, not JPM Coin alone.
The Ethereum expansion extends JPMorgan’s use of public blockchain infrastructure while keeping JPM Coin within an institution-focused model. Clients must still meet the bank’s approval and compliance requirements to use the token.
