Kinexys by J.P. Morgan, the firm’s industry-leading blockchain business unit and part of J.P. Morgan Payments, has brought JPM Coin (ticker: JPMD), J.P. Morgan’s USD-denominated deposit token, to Ethereum, the Layer 1 blockchain network. Available to J.P. Morgan’s institutional clients, the move extends the reach of institutional finance on public blockchain.

Large institutions that actively participate in both crypto and real-world-asset (RWA) digital transactions are increasingly looking for native onchain cash solutions from pre-eminent and reputable financial institutions that are interoperable with the deposit-based products they already use.

Ethereum's established depth of onchain liquidity and tokenized assets makes it a natural next public blockchain for JPM Coin. Institutional clients can now move money quickly, easily and securely on Ethereum in addition to Base – the Ethereum Layer 2 blockchain – meaningfully expanding the scale of access to native onchain cash that sits alongside the assets, collateral, and counterparties they transact with already. JPM Coin joins a growing set of J.P. Morgan tokenized offerings on Ethereum, following the launch of J.P. Morgan Asset Management's tokenized money market funds on the network earlier this year.

Matthew Dawson, Co-Founder of Ethereum Institutional, said, "We're delighted to see J.P. Morgan Payments bring JPM Coin to Ethereum. It builds on a clear trajectory: JPM Coin is already live on Base, J.P. Morgan Asset Management has tokenized money market funds on Ethereum, and the Kinexys platform itself is built on Ethereum Virtual Machine technology. J.P. Morgan Payments’ choice reflects what Ethereum uniquely offers institutions: unmatched liquidity depth, tokenized assets, applications, and security as the most proven public blockchain. It's a clear signal that institutional finance is moving onto public, verifiable infrastructure."

Emma Landriault, Global Head of Kinexys Labs at Kinexys by J.P. Morgan, said, “Tokenized financial infrastructure is no longer theoretical. It’s already restructuring liquidity, settlement, and digital asset workflows. Issuing JPM Coin first on Base and now on Ethereum is a meaningful step towards providing our institutional clients with multi-chain optionality for moving wholesale money across both the web3 and traditional finance ecosystems.”

As a deposit token, JPM Coin, launched in November 2025, supports peer-to-peer transfers between institutional clients within the Ethereum Virtual Machine (EVM) ecosystem, including Base and Ethereum, providing a new, resilient onchain base liquidity layer for USD deposits. This reduces friction while enabling the potential for programmable treasury out of institutional clients’ wallet interfaces and can help institutions make faster, more informed and automated financial decisions, while streamlining onchain digital asset transactions.

The Kinexys platform has processed over $4 trillion in cumulative transactions since inception, with an average daily transaction volume of $7 billion¹.

Read more about the latest developments in Bloomberg. Check out our Blockchain 101 glossary here and other recent news from Kinexys:

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