JPMorgan brings JPM Coin to Ethereum for institutions

JPMorgan Chase made JPM Coin, its token representing dollar deposits at the bank, available to institutional clients on Ethereum on Oct. 19, adding the mainnet to Base for moving money onchain. The bank said the token was technically deployed on Ethereum that day, according to CoinDesk’s report on the launch.

What can institutions use JPM Coin for on Ethereum?

Institutional clients can use the token to send and receive dollar deposits on the network. JPMorgan told Bloomberg that JPM Coin can move money in seconds, around the clock, compared with transfers that can take days and occur during business hours.

JPM Coin first launched on Coinbase’s Base network in 2025. The Ethereum deployment gives clients another network for wholesale money transfers; the bank’s statement described the move as providing “multi-chain optionality.”

Why did JPMorgan choose Ethereum?

Ethereum offers more liquidity than rival networks and is already used by institutional clients, Emma Landriault, head of Kinexys Labs at JPMorgan’s blockchain division, told Bloomberg. The bank said the wider availability is intended to serve crypto firms seeking blockchain payments and financial firms settling trades or supporting tokenized assets.

JPM Coin represents U.S. dollar deposits held at JPMorgan. It is a deposit token, rather than a privately issued stablecoin, and the new Ethereum deployment extends the bank’s blockchain payment services onto a public network.

What network could JPM Coin reach next?

JPMorgan said it was planning to bring the token to Canton Network in January, CoinDesk reported. The Ethereum launch is now live for institutional clients; the bank has not provided a date for the Canton deployment in its statement cited by the publication.

Source material

• CoinDesk’s report on the launch — coindesk.com