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JPMorgan expands JPM Coin to Ethereum to support institutional payments and tokenised asset settlement

JPMorgan is expanding its institutional deposit token, JPM Coin, to Ethereum. Institutional clients will be able to use the token to make payments and settle tokenised asset trades. JPM Coin represents U.S. dollars deposited at JPMorgan and allows eligible customers to transfer funds around the clock within seconds. JPMorgan said it chose Ethereum for its liquidity and customers’ existing use cases, while limiting access to approved institutional participants.