JPMorgan makes JPM Coin available to institutions on Ethereum

JPMorgan made its JPM Coin deposit token available to institutional clients on Ethereum on Oct. 19, adding the network alongside Base for onchain dollar transfers, according to CoinDesk’s report, which cites a JPMorgan statement. The bank’s token represents U.S. dollar deposits held at JPMorgan.

What can institutional clients do with JPM Coin on Ethereum?

Clients can use the token to send and receive money on the network, JPMorgan said. Bloomberg reported that transfers take seconds and are available around the clock, compared with traditional transfers that can take several days and are limited to working hours.

JPM Coin, ticker JPMD, is a deposit token, not a stablecoin, and represents money held as deposits at the bank. JPMorgan launched it on Base in November 2025, according to the company’s announcement of the Ethereum expansion.

Why is JPMorgan adding Ethereum?

JPMorgan said Ethereum’s liquidity and existing use by institutional clients made it a fit for the token. The expansion gives clients another network for moving dollar deposits alongside Base, which is an Ethereum layer-2 network.

Who can access the Ethereum deployment?

The token is available to JPMorgan’s institutional clients, the bank said. The move extends JPM Coin onto a public blockchain; it does not make the token available to retail users.

JPMorgan said the Ethereum deployment supports peer-to-peer transfers between institutional clients in the Ethereum Virtual Machine ecosystem, including Ethereum and Base. The bank said the token can provide an onchain liquidity layer for dollar deposits and may support programmable treasury operations and faster digital-asset transactions.

Sources

• CoinDesk’s report, which cites a JPMorgan statement — coindesk.com
• announcement of the Ethereum expansion — jpmorgan.com