JPMorgan launches JPM Coin on Ethereum for institutions

JPMorgan brought its dollar deposit token JPM Coin to Ethereum on Oct. 19, 2026, giving institutional clients another public network for onchain transfers. The move adds Ethereum alongside Base, where JPM Coin first launched in November 2025, The Block reported.

What can clients do with JPM Coin on Ethereum?

JPM Coin, also known as JPMD, represents US dollar deposits held at JPMorgan, according to the bank’s announcement, as reported by Cointelegraph. Eligible institutional clients can use it for peer-to-peer transfers within the Ethereum Virtual Machine ecosystem, which includes Ethereum and Base.

A JPMorgan spokesperson told Cointelegraph that the token was technically deployed on Ethereum mainnet. The bank said transfers can happen within seconds around the clock. JPM Coin remains restricted to approved institutional participants, despite being issued on public blockchains, Cointelegraph reported.

Why did JPMorgan add Ethereum?

Kinexys, JPMorgan’s blockchain business unit, cited Ethereum’s onchain liquidity and tokenized assets as reasons for the expansion, The Block reported. The bank said the token is intended to provide onchain cash alongside the assets, collateral and counterparties institutions already use.

Emma Landriault, global head of Kinexys Labs, said institutional clients could use JPM Coin for blockchain payments, trade settlement and collateral, according to Cointelegraph. The expansion follows JPMorgan’s launch of JPM Coin on Base and extends its availability across two public networks.

What comes next for JPM Coin?

JPMorgan has not disclosed a timetable for another network expansion. The bank announced plans in January to bring JPM Coin to the Canton Network, Cointelegraph reported. For now, institutional clients can transfer the token across Ethereum and Base within the EVM ecosystem.

Source material

• The Block reported — theblock.co
• Cointelegraph — cointelegraph.com