JPMorgan expands JPM Coin deployment to Ethereum blockchain for institutional use: Report
The financial services giant JPMorgan is extending its JPM Coin digital deposit token to the Ethereum network, enabling institutional customers to execute payments and complete settlements of tokenized asset transactions.
According to a Bloomberg report published on Monday, JPMorgan Chase, which holds the position as the largest bank globally measured by market capitalization, is bringing its JPM Coin deposit token to the Ethereum blockchain network.
The JPM Coin functions as a representation of US dollar deposits maintained at JPMorgan and provides qualified clients with the capability to move funds instantaneously, operating continuously throughout the day and night.
According to Emma Landriault, who serves as global head of Kinexys Labs, cryptocurrency companies would have the opportunity to utilize the token for conducting payments on blockchain networks, whereas financial institutions would be able to leverage it for trade settlement purposes and for posting collateral requirements.
The decision by JPMorgan to select Ethereum was based on the network's liquidity characteristics and its widespread adoption among the bank's existing client base, Landriault explained. Despite the fact that these tokens will be issued on publicly accessible networks, access to JPM Coin will continue to be limited exclusively to authorized institutional participants.
This latest expansion comes after JPMorgan's introduction of JPM Coin on Base in November 2025, which is an Ethereum layer-2 scaling network developed by the cryptocurrency exchange platform Coinbase. During that launch, JPMorgan indicated its intentions to extend support to other public blockchain networks. Subsequently in January, the banking institution revealed plans to deploy JPM Coin on the Canton Network.
A request for further information and additional details was sent by Cointelegraph to JPMorgan, however no immediate response was provided by the company.