JPMorgan is expanding its institutional deposit token, JPM Coin, to Ethereum. On Oct. 19, Cointelegraph, a blockchain media outlet, reported that institutional clients can use it to make payments and settle tokenised asset trades.
JPM Coin is a token representing U.S. dollars deposited at JPMorgan. Eligible customers can use it to transfer funds 24 hours a day within seconds.
Emma Landrio (엠마 란드리오), head of Kinexys Labs, said crypto firms can use the token for blockchain payments, while financial institutions can use it for trade settlement and collateral. JPMorgan chose Ethereum after considering its liquidity and customers' existing use cases.
JPM Coin is limited to approved institutional participants even if it is issued on a public network.
JPMorgan launched JPM Coin on Base, an Ethereum layer-2 network built by Coinbase, in November 2025. It said at the time it planned to support additional public blockchains, and in January it announced it would expand JPM Coin to the Canton Network.
Hyunwoo Choo
cookinpapa@d-today.co.kr