Kinexys, J.P. Morgan’s blockchain division within its Payments group, has expanded its USD deposit token JPM Coin (JPMD) onto Ethereum’s mainnet. The token is now available to the bank’s institutional clients and further extends regulated institutional finance onto public blockchains.
Major institutions involved in both crypto and real-world asset activity increasingly want on-chain cash options issued by established, trusted banks and solutions that work seamlessly with the deposit products they already rely on.
Ethereum’s strong on-chain liquidity and growing ecosystem of tokenized assets make it a strong candidate for J.P. Morgan to expand JPM Coin to another public blockchain. With this move, institutional clients can transfer funds quickly, conveniently, and securely on Ethereum, alongside Base, Ethereum’s Layer 2 network.
This expansion broadens access to digital cash directly onchain, bringing it closer to the assets, collateral, and counterparties institutions already use. JPM Coin also adds to J.P. Morgan’s expanding range of tokenized products on Ethereum, following J.P. Morgan Asset Management’s launch of tokenized money market funds earlier this year.
Matthew Dawson, the Co-Founder of Ethereum Institutional, expressed excitement for the new development, saying;
“We’re delighted to see J.P. Morgan Payments bring JPM Coin to Ethereum. It builds on a clear trajectory: JPM Coin is already live on Base, J.P. Morgan Asset Management has tokenized money market funds on Ethereum, and the Kinexys platform itself is built on Ethereum Virtual Machine technology.”
The Ethereum co-founder further asserted that J.P. Morgan Payments’ choice amplifies Ethereum’s unique institutional offering, including unmatched liquidity depth, tokenized assets, applications, as well as security as a leading public blockchain. “It’s a clear signal that institutional finance is moving onto public, verifiable infrastructure.” He added.
Additionally, Emma Landriault, Global Head of Kinexys Labs at Kinexys by J.P. Morgan, noted that tokenized financial systems have moved beyond the conceptual stage and are already reshaping liquidity, settlement, and digital asset processes.
Rolling out JPM Coin first on Base and now on Ethereum marks an important step toward giving institutional clients the flexibility to transfer wholesale funds across multiple chains, bridging Web3 and traditional finance.