JPMorgan brings JPM Coin deposit token to Ethereum for institutional clients
JPM Coin goes live on Ethereum
JPMorgan says it has moved its dollar deposit token, JPM Coin (JPMD), onto Ethereum for institutional clients. The bank announced the move on Monday.
A deposit token is a digital version of money a customer already holds at a bank. JPMD represents JPMorgan's existing bank deposits on a public blockchain, a shared digital record that many parties can view and use. According to JPMorgan's website, this lets institutional clients make payments directly onchain with more speed and efficiency.
The token now supports peer-to-peer transfers, meaning one client can send value straight to another, within the Ethereum Virtual Machine (EVM) ecosystem. That ecosystem includes Base and Ethereum.
Key facts about the expansion
- JPMD was first launched in November 2025 on Base, a blockchain that runs on Ethereum Virtual Machine technology.
- Kinexys by JPMorgan, the bank's digital asset unit, said Ethereum's established onchain liquidity and tokenized assets made it a natural next public blockchain for the token.
- JPMorgan said the Kinexys platform has processed more than $4 trillion in cumulative transactions, with an average daily transaction volume of $7 billion.
- The Ethereum move follows the bank's December 2025 launch of its first tokenized money-market fund on Ethereum, and a second fund in May 2026.
What Kinexys said about the move
Kinexys by JPMorgan gave the statement to The Block. Emma Landriault, global head of Kinexys Labs, said tokenized financial infrastructure is "no longer theoretical" and is already changing liquidity, settlement and digital asset workflows.
The bank also pointed to Ethereum's onchain liquidity and its existing tokenized assets as reasons for the choice.
Reaction from the Ethereum community
Matthew Dawson, co-founder of Ethereum Institutional, welcomed the expansion. He said it follows JPM Coin's existing presence on Base, JPMorgan Asset Management's tokenized money market funds on Ethereum, and the fact that the Kinexys platform itself is built on Ethereum Virtual Machine technology.
Dawson described it as a signal that institutional finance is moving onto public, verifiable infrastructure. That is his opinion, not a confirmed outcome.
What is confirmed
- JPMorgan announced the Ethereum expansion on Monday, October 19, 2026.
- JPMD is a USD-denominated deposit token tied to JPMorgan bank deposits.
- The token now supports peer-to-peer transfers within the EVM ecosystem, including Base and Ethereum.
- JPMD first launched in November 2025 on Base.
- Kinexys reports over $4 trillion in cumulative transactions and $7 billion in average daily volume.
Why it matters
JPMorgan is one of the largest banks to put a deposit-based token on a public blockchain, a step beyond private, bank-only systems. It shows a traditional bank connecting its deposit product to open networks that already host tokenized funds and other digital assets.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.
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