JPMorgan brings JPM Coin deposit token to Ethereum

JPMorgan brought its JPM Coin deposit token to Ethereum on Oct. 19, 2026, giving institutional clients another public blockchain for moving dollar deposits onchain, according to The Block’s report on the announcement.

The token, ticker JPMD, represents U.S. dollar deposits at JPMorgan. Kinexys, the bank’s blockchain business, said institutional clients can use it on Ethereum alongside Base, where JPM Coin launched in November 2025.

What can institutional clients do with JPM Coin on Ethereum?

Clients can make peer-to-peer transfers within the Ethereum Virtual Machine ecosystem, which includes Ethereum and Base, The Block reported. JPMorgan said the token lets clients move money onchain; access is limited to the bank’s institutional clients.

The deposit token brings bank money onto a public blockchain. The Block reported that JPMD represents JPMorgan’s existing deposits, while Kinexys described Ethereum as a next network for the token because of its onchain liquidity and tokenized assets.

How does the Ethereum launch extend JPM Coin?

The launch adds Ethereum to Base, JPM Coin’s first public blockchain network. In its announcement, Kinexys said the expansion gives institutional clients another network for onchain cash alongside assets, collateral and counterparties they already use.

Kinexys said the platform has processed more than $4 trillion in cumulative transactions and averages $7 billion in daily transaction volume. Those figures refer to the Kinexys platform overall, not JPM Coin alone.

When did JPM Coin first launch on a public blockchain?

JPMorgan made JPM Coin available to institutional clients on Base in November 2025, The Block reported. The Ethereum launch extends that public-chain availability to a second network, while the token remains restricted to institutional clients.

Sources

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