JPMorgan's JPM Coin, representing dollar deposits, is coming to Ethereum: Bloomberg

JPMorgan Chase is set to broaden its JPM Coin deposit token to the Ethereum blockchain, according to a Bloomberg report on Monday. The U.S. bank, which is the world's largest by market capitalization, aims to enable institutional clients to execute payments and settle transactions involving tokenized assets in a matter of seconds, 24/7.

Emma Landriault, the head of Kinexys Labs and a global representative for crypto firms, highlighted that crypto companies could leverage the token for blockchain-based payments, while financial institutions could utilize it for trade settlements and collateral posting. Landriault mentioned JPMorgan's selection of Ethereum was driven by its liquidity and the fact that many clients had already adopted it.

Notably, the tokens are issued on public networks but will be limited to approved institutional participants. This move follows JPMorgan's November 2025 launch of JPM Coin on Base, an Ethereum layer-2 network developed by Coinbase. At that time, the bank stated its intention to support other public blockchains.

In January, the bank disclosed plans to introduce JPM Coin to the Canton Network. Attempts to reach JPMorgan for further information were unsuccessful at the time of writing.