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ZEC $1,163 JPMorgan expands JPM Coin deposit token to Ethereum for institutions
The bank is reportedly adding Ethereum as a network for its dollar deposit token, after launching it on Base in November 2025.
Key takeaways
- Ethereum joins Base. JPM Coin was first rolled out on Base in November 2025 and is now reportedly coming to Ethereum.
- Access stays closed. JPM Coin remains restricted to approved institutional participants even though it is issued on public networks.
- ETH traded near $2,434. CoinGape reported Ethereum at $2,434 with a 24-hour high of $2,445 and a 42% rise in volume.
What happened
JPMorgan is reportedly expanding its JPM Coin deposit token to Ethereum, according to Bloomberg. The bank is the largest by market capitalization. JPM Coin stands for US dollar deposits held at JPMorgan and lets eligible clients move funds in seconds, at any hour.
Emma Landriault, global head of Kinexys Labs, said crypto companies could use the token for blockchain payments. Financial institutions could use it to settle trades and post collateral. She said JPMorgan picked Ethereum for its liquidity and its existing use among clients.
The token is issued on public networks but stays limited to approved institutional participants. CoinGape reported the ticker as JPMD. Landriault described the move as part of a year of further convergence between Wall Street and crypto.
First $2.7KLatest $2.4K-9.4% over the period
Points are daily observations, not closing prices.
Why it matters
The Ethereum launch extends a series of network additions. JPMorgan put JPM Coin on Base, an Ethereum layer-2 network built by Coinbase, in November 2025. In January it announced plans to bring the token to the Canton Network.
JPMorgan already has tokenized money market funds MONY and JLTXX on Ethereum mainnet, CoinGape reported. The deposit token adds a cash leg to those products. CoinGape also reported that JPMorgan is expanding its Digital Assets and Blockchain Solutions team.
What the data shows
CoinGape reported Ethereum at $2,434 at the time of writing, after a 24-hour high of $2,445. It said trading volume rose 42% over the prior 24 hours. CoinGecko data showed ETH at $2,434.28 on October 19.
Market capitalization stood at $297,306,703,900 and 24-hour volume at $9,569,129,046.
What is still unclear
- Cointelegraph said it contacted JPMorgan for more details and did not receive an immediate response.
- The reports do not give a launch date for JPM Coin on Ethereum or say which clients will get access first.
Questions readers ask
What is JPM Coin?
JPM Coin represents US dollar deposits held at JPMorgan. It lets eligible clients transfer funds within seconds, around the clock. CoinGape reported the ticker as JPMD.
Why did JPMorgan choose Ethereum for JPM Coin?
Emma Landriault, global head of Kinexys Labs, said the bank chose Ethereum for its liquidity and existing use among clients.
Can anyone use JPM Coin on Ethereum?
No. The token is issued on public networks but remains restricted to approved institutional participants.
Where else is JPM Coin available?
JPMorgan rolled out JPM Coin on Base in November 2025. In January it announced plans to bring the token to the Canton Network.
