JPMorgan brings JPM Coin to Ethereum for institutional clients

JPMorgan made its dollar deposit token JPM Coin available to institutional clients on Ethereum on Oct. 19, adding the network as a second public blockchain for the token. The move gives clients another network for onchain transfers, according to The Block’s report on the launch.

What does JPM Coin represent?

JPM Coin, also known as JPMD, represents U.S. dollar deposits held at JPMorgan, rather than a claim on a separate pool of assets. The token enables institutional clients to make onchain payments, The Block reported.

JPMorgan first launched JPM Coin on Base in November 2025. With the Ethereum deployment, the token supports peer-to-peer transfers across the Ethereum Virtual Machine ecosystem, including both Base and Ethereum, according to The Block.

Why add Ethereum?

JPMorgan said Ethereum offers clients access to its onchain liquidity and tokenized assets. The bank described the expansion as a step toward giving institutional clients more options for moving wholesale money across crypto and traditional finance, CoinDesk reported, citing a bank statement.

JPM Coin is aimed at institutions, including firms seeking to make blockchain payments or settle trades and support tokenized assets. The Ethereum launch extends the token’s availability beyond Base; it does not make JPM Coin a public retail payment token.

What comes next for JPM Coin?

JPMorgan has also flagged plans to bring JPM Coin to Canton, CoinDesk reported, but the bank has not announced a launch date for that network. The Ethereum deployment is live for institutional clients, while any Canton rollout remains a future step.

Source material

• The Block’s report on the launch — theblock.co
• CoinDesk reported, citing a bank statement — coindesk.com