MOVE, PROGRAM, AND SETTLE MONEY
Blockchain Deposit Account Programmable Payments JPM CoinSM On-Chain FX

JPM CoinSM turns deposits into on-chain programmable, always-on digital money1

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JPM CoinSM

Liquidity that continues working

Collapse payment, settlement and reconciliation into one step—and keep your capital liquid and productive 24/7/3652.
JPM CoinSM is a deposit token issued on the Layer 2 Ethereum network Base that enables you to move money, post collateral and settle transactions on public blockchains.
Currently available in USD and backed by the safety and security of J.P. Morgan, JPM CoinSM carries the credit risk profile and balance sheet certainty of commercial bank money, while benefiting from existing regulatory deposit frameworks. It unifies payment, settlement and reconciliation into a single on-chain action, with the ability to move between cash and token through the Blockchain Deposit Account (BDA) framework.
Always-on capital

From bank deposit to on-chain advantage—your funds stay liquid and productive around the clock, moving when opportunity strikes.

Institutional-grade trust

JPM CoinSM operates on a public blockchain where only vetted counterparties transact. Every movement carries the confidence and institutional scale of J.P. Morgan.

Simple on- and off-ramp

Convert between cash on an account and deposit token through the BDA framework.

Key capabilities

Use blockchain infrastructure that turns complex financial functions into seamless customer experiences

FUND
Convert cash on accounts to deposit tokens

Deposit USD into your BDA and convert it into JPM Coin℠—a bank-backed digital deposit token. Your funds stay within J.P. Morgan’s banking infrastructure at every stage.

MOVE AND RECONCILE
Pay, settle and reconcile—near-instantly

Use JPM CoinSM to send payments, post collateral, settle transactions and access new on-chain markets—all in near real time. Payment and settlement are unified on a shared ledger, so reconciliation happens automatically. Near-instant settlement can free up cash that would otherwise be locked in sequential processing, reducing counterparty risk and giving you faster access to your liquidity.

REDEEM
Convert back to cash on your schedule

Redeem JPM CoinSM back to USD on your BDA at any time. No lock-up periods, no complex withdrawal processes—your liquidity stays fully within your control.

Use cases

Unlock new value with JPM CoinSM

Whether you’re optimizing treasury operations, accelerating securities settlement or enabling faster payouts, JPM CoinSM gives you programmable, bank-backed digital money that moves on your terms. It is built for institutional finance on a public chain.
Corporates

Stop pre-funding accounts across time zones and waiting for batch settlement cycles. With JPM CoinSM, you settle payments in near real time, helping you access your working capital more quickly, and program fund movements to execute automatically for your on-chain liquidity requirements. Your capital works harder because it’s never sitting idle.

Financial institutions

Reduce counterparty risk and capital drag by settling securities, transactions and posting collateral on-chain—in near real time, with full transparency on a shared ledger. JPM CoinSM helps you move faster through the trade life cycle, access new on-chain markets and maintain the confidence your business requires.

Payment service providers

Offer your merchants and clients near-real-time settlement and programmable payout logic—powered by bank-backed digital money that operates 24/7/3652 across borders. JPM CoinSM helps you reduce reliance on correspondent banking chains, lower pre-funding costs and differentiate your service with faster finality and fewer intermediaries.

Case study

On-chain Asset Issuance

Enable faster settlement, broader distribution and near real-time ownership visibility.
Tokenized Money Market Funds (TMMFs)
Kinexys Digital Assets has supported the issuance of tokenized assets, such as money market funds, to allow for on-chain subscriptions, redemptions and transfers on public blockchain.
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Frequently asked
questions

JPM Coin℠ operates within the BDA framework, which connects to your existing treasury and payment infrastructure. You don’t need to replace or rebuild your current systems—BDA provides the on and off-ramp between your traditional cash management environment and on-chain activity. J.P. Morgan works directly with your team to configure integration based on your specific operational setup.

JPM Coin℠ supports a range of institutional use cases including cross-border payments, intraday liquidity transfers, on-chain collateral posting for securities transactions and programmable payment execution. Because it’s a bank-issued deposit token, it carries the security and counterparty confidence of a J.P. Morgan deposit.

JPM Coin℠ operates on a public blockchain—meaning all transactions are recorded on a shared ledger with full traceability, but only vetted, approved counterparties can participate. You get near-real-time visibility into token activity, transaction status and settlement confirmation. Because JPM Coin℠ is a bank issued deposit token, it operates within J.P. Morgan’s existing compliance and risk management frameworks—not outside them.

Implementation timelines vary based on your existing infrastructure, operational requirements and regulatory environment. J.P. Morgan provides dedicated onboarding support to help you move from evaluation to live transactions as efficiently as possible. The BDA framework is designed to minimize integration complexity—so you can focus on deploying JPM Coin℠, not rebuilding your tech stack.

No. JPM Coin℠ is a bank-issued deposit token—not a cryptocurrency or a stablecoin. It uses blockchain technology, but the token itself is backed by the safety and security of J.P. Morgan. Your funds never leave the firm’s regulated banking infrastructure. JPM Coin℠ is a new way to move and settle value using the same institutional safeguards your business already relies on.

A tokenized deposit is a digital representation of a commercial bank deposit recorded on a blockchain network. With JPM Coin℠, the token is backed by USD deposits held in J.P. Morgan bank accounts. It can support on-chain payments, settlement and reconciliation.

Programmable money is value that can execute predefined instructions—such as conditional release, scheduled transfers or rule-based payments—so workflows can be automated. With JPM Coin℠, programmability can be used to support institutionally oriented use cases such as conditional payments or automated settlement-linked transfers.

T+0 settlement can reduce settlement exposure and improve intraday liquidity by shortening the time between execution and settlement. It can also streamline operations by shortening or eliminating steps that typically occur between execution and settlement.