JPMorgan brings JPM Coin, representing dollar deposits, to Ethereum

JPMorgan(JPM), the largest U.S. bank, is bringing its almost year-old crypto token , JPM Coin, to Ethereum as part of a plan to expand beyond Base, the layer-2 blockchain built by Coinbase Global COIN . The bank chose Ethereum because the blockchain offers more liquidity than rival networks and is already used by institutional clients, Emma Landriault, the head of Kinexys Labs at JPMorgan’s blockchain division Kinexys, said in an interview with Bloomberg . The banking giant flagged a move outside Base back in January, saying it was planning to take the token to the Canton Network.