JPMorgan to Launch the JPM Coin Deposit Token on the Ethereum Network

• JPMorgan will roll out JPM Coin on the public Ethereum network for institutional clients.
• The bank is counting on demand from crypto companies and financial institutions that need digital money for settlements and to collateralize tokenized-asset transactions.

U.S. bank JPMorgan Chase is launching its deposit token, JPM Coin, on the Ethereum network for institutional clients. Bloomberg reported.

The statement says JPM Coin represents U.S. dollar deposits and allows clients to send and receive funds in seconds, 24/7. The token was previously launched on Base — a blockchain developed by Coinbase.

According to Emma Landrio, global head of Kinexys Labs — JPMorgan’s blockchain unit — the token could appeal to large crypto companies looking for onchain payment tools. It can also be used by financial institutions that need digital money for settlements or to collateralize tokenized-asset transactions.

She believes JPMorgan chose Ethereum because of the network’s liquidity and its widespread use among clients. According to DefiLlama, around $50 billion is locked in Ethereum applications.

“We clearly see a year of further convergence between Wall Street and cryptocurrencies,” Landrio said, adding that this process involves both traditional financial institutions moving to public networks and deeper cooperation between institutional Web3 companies and banks.

Bloomberg noted that JPMorgan is among the most active banks in the blockchain technology space. In particular, it is developing the Kinexys Blockchain Deposit Account — a private blockchain network for corporate clients that supports transfers in dollars, euros, pounds, and other currencies.

As a reminder, in early 2026 JPMorgan planned to launch JPM Coin on the Canton network.

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