JPMorgan to Bring JPM Coin Dollar Deposit Token to Ethereum

JPM Coin Ethereum — JPMorgan Chase is expanding the reach of its JPM Coin token, which represents dollar deposits, by making it available to institutional clients on the Ethereum blockchain, according to a Bloomberg report.

The bank’s decision to move beyond its private Kinaxis network and the Coinbase-built Base layer-2 is driven by Ethereum’s established liquidity. The network is already widely used by crypto firms for payments and by financial institutions for settling trades or collateralizing tokenized assets.

JPM Coin, launched nearly a year ago, is a permissioned digital token used by JPMorgan’s wholesale clients to transfer U.S. dollar deposits instantly. The bank’s private blockchain network currently processes over $7 billion in transactions daily.

The expansion onto Ethereum represents a significant step in bridging traditional finance with public blockchain infrastructure. It signals growing institutional comfort with using public networks for large-scale settlement and tokenization of real-world assets.