JPMorgan is bringing its deposit token to Ethereum for institutional clients, extending a rollout that began on Base last year. The JPM Coin launch on Ethereum, announced on October 19, 2026, targets on-chain payments for large crypto clients and transactions involving tokenized assets.
JPM Coin represents clients’ U.S. dollar deposits at JPMorgan. The bank said in a statement that it will make the token available to its institutional customers on the Ethereum network, broadening its use of blockchain in institutional finance.
JPM Coin’s Ethereum launch targets payments and tokenized assets
The Ethereum deployment is expected to support both on-chain payments for large clients in the crypto sector and financial institutions’ tokenized asset transactions. Those uses extend beyond transferring money: the token is also intended to facilitate settlement or collateralization in transactions involving tokenized assets.
The intended users are institutional clients, including financial institutions active in crypto and tokenized assets. JPMorgan’s deposit token links those blockchain-based activities to customers’ dollar deposits held at the bank.
The JPM Coin launch on Ethereum follows its initial introduction on Base in 2025. Base is affiliated with Coinbase Global Inc. Ethereum adds another network on which JPMorgan plans to offer the deposit token to institutional customers.
Article produced with the assistance of artificial intelligence and reviewed by the editorial team.