JPMorgan Will Offer JPM Coin Deposit Tokens on Ethereum to Institutions

JPMorgan will make its JPM Coin dollar deposit token available to institutional customers on Ethereum, widening access to round-the-clock onchain payments and settlement across the network.

JPM Coin represents U.S. dollar deposits held by customers at the bank. The token is designed to support payments and receipts in seconds at any hour, including outside standard banking hours, giving institutional users a blockchain-based way to move deposited dollars.

The Ethereum rollout is aimed at large customers in the crypto industry for onchain payments. Financial institutions are also expected to use JPM Coin to settle trades involving tokenized assets or provide collateral for those transactions.

JPMorgan first launched JPM Coin on Base in 2025, making Ethereum a second blockchain network for the deposit token. The two stated applications span payments and financial-asset transactions: crypto customers can use it to send or receive funds, while financial institutions can use it around tokenized-asset trades.