JPMorgan expands JPM Coin deposit token to Ethereum: report
JPMorgan Chase is reportedly expanding its JPM Coin deposit token to Ethereum, according to a Bloomberg report published on Monday. The move would let approved institutional clients use the token for payments and for settling transactions involving tokenized assets.
JPM Coin stands for US dollar deposits held at JPMorgan. The bank says eligible clients can use it to move funds within seconds, at any time of day. Cointelegraph reported the news on Oct. 19, 2026, citing the Bloomberg report.
Cointelegraph said it contacted JPMorgan for more details but did not get an immediate response. That means the details described here come from the report and from the bank representative quoted in it, not from a fresh statement by JPMorgan.
How the token would be used
- JPM Coin represents US dollar deposits held at JPMorgan, rather than a new currency.
- Crypto companies could use it for blockchain payments, according to Emma Landriault, global head of Kinexys Labs.
- Financial institutions could use it to settle trades and post collateral, she said.
- Transfers are described as taking seconds and working around the clock.
Why Ethereum was chosen
Landriault said JPMorgan picked Ethereum because of its liquidity and because clients already use it. Ethereum is a public blockchain, meaning a shared network that anyone can view and use.
Even though the tokens would live on a public network, JPM Coin would stay limited to approved institutional participants. Access would not be open to the general public.
The bank's earlier blockchain moves
The Ethereum plan follows JPMorgan's November 2025 rollout of JPM Coin on Base, an Ethereum layer-2 network built by crypto exchange Coinbase. A layer-2 network is a separate chain that runs on top of Ethereum to handle activity more cheaply or quickly.
At that time, JPMorgan said it planned to support more public blockchains. In January, the bank announced plans to bring JPM Coin to the Canton Network.
What is confirmed
The reported expansion to Ethereum, the earlier launch on Base, the stated plan to support additional public blockchains, and the announced intention to bring JPM Coin to the Canton Network are the details supported by the supplied material. The uses described for crypto firms and financial institutions come from Landriault, as quoted in the report.
What is still unclear
The report does not give a launch date for the Ethereum version, the number of clients involved, or how much money the token handles. JPMorgan had not responded to Cointelegraph's request for more details at the time of publication, so the expansion has not been confirmed directly by the bank in the supplied material.
Why it matters
JPM Coin is a way for large financial firms to move dollar deposits on blockchain networks instead of through slower traditional channels. Taking it to Ethereum places a bank-issued token on one of the most widely used public blockchains, while keeping it closed to approved institutions only.
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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