JPMorgan has made JPM Coin, which represents dollar deposits, available to institutional clients on Ethereum, adding another network where money held at the bank can be transferred over a blockchain.
According to a statement shared with The Block by Kinexys, the bank’s blockchain unit, JPM Coin (JPMD) is now also available on Ethereum. First launched on the Base network in November 2025, the token represents existing dollar deposits at JPMorgan on a public blockchain.
This setup allows institutional clients to send tokens representing their deposits to one another and make payments on-chain. The bank says the service will make payments faster and more efficient.
Why did JPMorgan choose Ethereum?
Kinexys cited the network’s deep liquidity and tokenized assets as reasons for expanding to Ethereum. JPMD has now also been brought to a network where the bank already offers financial products.
JPMorgan launched its first tokenized money market fund on Ethereum in December 2025 and its second fund in May 2026. Alongside these products, the latest move also gives institutional clients the ability to make payments and transfers using a deposit token.
Kinexys’ daily transaction volume reaches $7 billion
Emma Landriault, global head of Kinexys Labs, said tokenized financial infrastructure is no longer just a theoretical idea and is already changing processes such as liquidity management and transaction settlement.
According to data disclosed by JPMorgan, the Kinexys platform’s total transaction volume has exceeded $4 trillion. Average daily transaction volume across the platform has reached $7 billion. The Ethereum expansion is the latest step in the bank’s efforts to bring this infrastructure to public blockchains.
Not investment advice.