JPMorgan brings JPM Coin deposit token to Ethereum

JPMorgan brought its dollar deposit token, JPM Coin (JPMD), to Ethereum on Oct. 19, adding the network for institutional clients making onchain payments and transfers, The Block reported. The bank’s Kinexys blockchain unit said clients can now use JPMD on Ethereum as well as Base.

How can institutional clients use JPMD?

JPMD supports peer-to-peer transfers within the Ethereum Virtual Machine ecosystem, including Base and Ethereum, according to Kinexys’s statement reported by The Block. The token represents JPMorgan bank deposits on a public blockchain and enables clients to make onchain payments.

The Ethereum expansion adds another network for clients who use the token. JPMorgan first made JPMD available to institutional clients on Base in November 2025, The Block reported.

Why did JPMorgan add Ethereum?

Kinexys cited Ethereum’s onchain liquidity and tokenized assets as reasons for choosing the network, according to The Block. The expansion extends JPM Coin’s reach across public blockchain networks in the EVM ecosystem.

Emma Landriault, global head of Kinexys Labs, said the move supports multi-chain options for institutional clients moving wholesale money between web3 and traditional finance, according to the statement cited by The Block.

How much has Kinexys processed?

JPMorgan said Kinexys has processed more than $4 trillion in cumulative transactions and averages $7 billion in daily transaction volume, The Block reported. The bank did not break out how much of that activity involved JPM Coin.

The Ethereum launch expands the token’s network availability; JPMorgan’s announcement did not specify a launch volume or disclose how many institutional clients would use JPMD on Ethereum.

Sources

• The Block reported — theblock.co