J.P. Morgan announced on October 19 that its Kinexys business had brought JPM Coin (JPMD), its US dollar-denominated deposit token, to Ethereum mainnet for institutional clients. Confirmed in a company announcement, the deployment expands JPM Coin’s availability beyond Base, giving approved participants another public blockchain for moving tokenized deposits.

JPM Coin remains a permissioned product restricted to approved institutional participants rather than a retail-accessible crypto asset, according to Cointelegraph.

JPM Coin goes live on Ethereum mainnet

The Ethereum deployment places JPM Coin on the network where a broad range of assets, collateral arrangements and counterparties already operate onchain. It gives clients another public-chain option for near-real-time, around-the-clock money movement, according to Bloomberg Law.

JPM Coin is denominated in US dollars and represents deposits within J.P. Morgan’s system. The announcement concerns its availability on Ethereum mainnet for institutional clients; it does not signal an opening of the token to the general public.

Approved institutions can move tokenized deposits across the EVM ecosystem

J.P. Morgan said JPM Coin supports peer-to-peer transfers between institutional clients in the Ethereum Virtual Machine ecosystem, including Ethereum and Base. The bank described the arrangement as an onchain liquidity layer for USD deposits.

That framing focuses on settlement between eligible institutions operating across those networks. Access is restricted to approved institutional participants, a limitation reported by Cointelegraph, rather than an unrestricted token offering on Ethereum.

Ethereum follows JPM Coin’s Base launch

The Ethereum rollout follows JPM Coin’s November 2025 launch on Base. The expansion brings the bank’s deposit-token infrastructure to a second public blockchain while retaining the approved-participant model.

Kinexys has processed more than $4 trillion in cumulative transactions since inception and has averaged $7 billion in daily transaction volume, according to J.P. Morgan. Those figures cover Kinexys activity and provide the bank’s stated scale for the infrastructure behind the latest deployment.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: Crypto Daily