JP Morgan Expands JPM Coin to Ethereum Network

JPMorgan Chase, the world's largest bank by market capitalization, is expanding its blockchain-based deposit token, JPM Coin, to the Ethereum network, further developing its infrastructure for institutional digital asset payments.

The banking giant confirmed that JPM Coin has been technically deployed on the Ethereum mainnet, extending its availability beyond the blockchain networks it previously supported. According to an announcement, JPM Coin represents US dollar deposits held at JPMorgan and allows eligible institutional clients to transfer funds within seconds, with transactions available 24 hours a day, seven days a week.

JPMorgan expands JPM Coin to Ethereum mainnet

The Ethereum deployment represents another step in JPMorgan's strategy to bring tokenized bank deposits onto public blockchain networks. Unlike conventional cryptocurrencies, JPM Coin represents deposits held at the bank and is designed to facilitate the movement of funds between approved institutional participants.

The token enables eligible clients to conduct near-instant transfers outside traditional banking hours, potentially improving the efficiency of institutional payments and settlement processes. Despite operating on public blockchain infrastructure, access to JPM Coin will remain restricted to authorized institutional users rather than being made available to the general public.

Ethereum integration targets institutional payments and settlement

Emma Landriault, global head of Kinexys Labs at JPMorgan, outlined several potential applications for the deposit token across the cryptocurrency and financial services industries. According to Landriault, cryptocurrency companies could use JPM Coin to facilitate blockchain-based payments, while traditional financial institutions could adopt it for trade settlement and collateral management.

These capabilities could allow institutions to move tokenized deposits more efficiently between counterparties and support financial transactions using blockchain infrastructure. Landriault explained that JPMorgan selected Ethereum because of its liquidity and established adoption among the bank's existing clients.

The decision reflects the growing importance of public blockchain networks in institutional finance, particularly as financial institutions explore tokenized deposits and blockchain-based settlement systems.

JPM Coin continues expanding across blockchain networks

JPMorgan's latest deployment follows the introduction of JPM Coin on Base in November 2025. Base is an Ethereum layer-2 blockchain developed by cryptocurrency exchange Coinbase, and its integration marked an earlier stage in JPMorgan's expansion onto public blockchain infrastructure.

At the time, the bank indicated that it intended to make JPM Coin available across additional public networks. In January, JPMorgan also announced plans to introduce the deposit token natively on the Canton Network, a blockchain ecosystem focused on institutional financial applications.

The Ethereum mainnet deployment adds another network to JPMorgan's broader tokenization strategy, potentially increasing the options available to eligible institutions for conducting blockchain-based payments, settling transactions and managing collateral.

By expanding JPM Coin across multiple blockchain networks, JPMorgan is continuing to develop infrastructure that connects traditional bank deposits with emerging digital asset settlement systems.

Sources:

https://www.prnewswire.com/news-releases/digital-asset-and-kinexys-by-jp-morgan-announce-intention-to-bring-usd-jpm-coin-jpmd-natively-to-the-canton-network-302654967.html

https://cointelegraph.com/news/jpmorgan-jpm-coin-ethereum-institutional-clients