JPMorgan has deployed its JPM Coin deposit token on Ethereum’s mainnet, giving approved institutional clients another public blockchain for moving dollar-denominated funds. The token represents deposits held at the bank and supports transfers within seconds, around the clock, as well as blockchain payments, tokenized-asset settlement and collateral posting.
The Ethereum launch adds to JPM Coin’s availability on Base, an Ethereum layer-2 network introduced for institutional clients in November 2025. JPMorgan said Ethereum’s liquidity and established use among its clients made it a natural next network. Although the token operates on public blockchains, access remains limited to approved institutional participants.
JPM Coin carries the ticker JPMD and supports peer-to-peer transfers between institutional clients using Ethereum Virtual Machine-compatible wallets. The token joins other JPMorgan offerings on Ethereum, including tokenized money-market funds launched by the bank’s asset-management business earlier this year.
JPMorgan has also announced an intention to bring JPMD natively to the Canton Network through a phased collaboration during 2026. The initial work is focused on the framework for issuing, transferring and redeeming the token on Canton, a privacy-enabled network designed for synchronized financial markets.
The expansion comes as JPMorgan’s Kinexys blockchain platform reports more than $4 trillion in cumulative transactions since inception and average daily transaction volume of $7 billion. Ethereum therefore gives the bank’s institutional clients another route for keeping onchain cash alongside tokenized assets, collateral and counterparties they already use.