JPMorgan brings JPM Coin deposit token to Ethereum

JPMorgan Chase has launched its U.S. dollar-denominated deposit token, JPM Coin, on the Ethereum blockchain, expanding its blockchain payments business as financial institutions increasingly explore ways to move money and assets on-chain. The token, known as JPMD, is available to the bank’s institutional clients through Kinexys, JPMorgan’s blockchain business. The launch extends JPM Coin beyond Base, the Ethereum layer-2 network where it first debuted in November 2025, according to JPMorgan’s announcement . JPM Coin represents dollar deposits held at JPMorgan rather than a cryptocurrency backed by reserves held separately by a stablecoin issuer.