JPMorgan is expanding its US dollar-denominated deposit token, JPM Coin (JPMD), to the Ethereum blockchain for institutional clients, widening its push to bring traditional financial services onto public blockchain networks.
The move allows JPM Coin to support peer-to-peer transfers across the Ethereum Virtual Machine (EVM) ecosystem, including Ethereum and Base. The bank said Ethereum’s established on-chain liquidity and tokenized asset market made it the token’s natural next network.
JPM Coin Expands Beyond Base
JPM Coin was first launched on Base in November 2025. It represents existing bank deposits held with JPMorgan and is designed to help institutional clients make payments directly on blockchain networks faster and more efficiently.
The expansion is part of JPMorgan’s broader tokenization strategy, which aims to move financial assets and transactions onto blockchain infrastructure.
Emma Landriault, global head of Kinexys Labs at Kinexys by J.P. Morgan, said tokenized financial infrastructure was already reshaping liquidity, settlement and digital asset workflows.
The Ethereum rollout will allow institutional clients to transfer funds across compatible blockchain wallets, extending the token’s use beyond its initial network.
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Kinexys Platform Records USD 4 Trillion in Transactions
JPMorgan said its Kinexys platform has processed more than USD 4 trillion in cumulative transactions, with an average daily transaction volume of USD 7 billion.
The latest expansion builds on the bank’s efforts to bring conventional financial instruments onto blockchain networks. JPMorgan launched its first tokenized money market fund on Ethereum in December 2025, followed by a second fund in May 2026.
The initiatives underline the bank’s growing focus on blockchain-based payments, settlement and tokenized financial products for institutional customers.
Institutional Finance Moves On-Chain
Matthew Dawson, co-founder of Ethereum Institutional, said the expansion builds on JPM Coin’s existing availability on Base, the presence of JPMorgan Asset Management’s tokenized money market funds on Ethereum, and Kinexys’ use of EVM technology.
He described the development as a signal that institutional finance is moving onto public, verifiable infrastructure.
JPMorgan’s move comes as financial institutions explore blockchain-based systems to improve payment efficiency and support transactions involving tokenized assets. By extending JPM Coin to Ethereum, the bank is broadening the blockchain networks available to institutional clients while continuing to build its digital payments and tokenization business.