J.P. Morgan Brings JPM Coin to Ethereum for Institutional Transfers

J.P. Morgan has brought its JPM Coin (JPMD) dollar deposit token to Ethereum, giving institutional clients another public blockchain for moving bank-issued money alongside digital assets.

JPMD went live on Ethereum’s main network Oct. 19. It represents U.S. dollar deposits at J.P. Morgan and supports direct transfers between institutional clients using Ethereum-compatible wallets. Access remains limited to the bank’s institutional clients.

The token was already available on Base, an Ethereum layer 2 network, following its Nov. 12, 2025, launch. B2C2, Coinbase and Mastercard completed test transactions before that rollout. Ethereum gives eligible clients a second public network for transferring dollar deposits where they conduct digital-asset transactions.

J.P. Morgan is also developing tokenized money market funds on Ethereum. Kinexys by J.P. Morgan, the bank’s blockchain business, has processed more than $4 trillion in cumulative transactions since inception, with average daily volume of $7 billion as of Oct. 19. Those figures cover the broader Kinexys platform, rather than JPMD activity on Ethereum.