JPMorgan has launched its deposit token JPM Coin (JPMD) on Ethereum for institutional clients, continuing its course towards tokenization. Kinexys by JPMorgan announced this on Monday, October 19, 2026. According to the company, Ethereum, with its "established on-chain liquidity depth and tokenized assets," became the natural next public network for JPMD, which was launched in November 2025 on Base.
JPMD represents the bank's dollar deposits on a public blockchain and allows institutional clients to make on-chain payments faster and more efficiently. The token supports peer-to-peer transfers within the Ethereum Virtual Machine ecosystem, including Base and Ethereum.
"We have clearly lived a year of further convergence between Wall Street and crypto," said Emma Landrio, global head of Kinexys Labs. "Not only banks are moving to public networks: institutional web3 players are increasingly integrating and partnering with traditional financial institutions." She also noted, "Tokenized financial infrastructure is no longer a theory – it is already reshaping liquidity, settlements, and workflows with digital assets."
The expansion relies on the bank's broader course: in December 2025, JPMorgan launched the first tokenized money market fund on Ethereum, and in May 2026, the second. The tokenized funds MONY and JLTXX are already operating on the network. According to the bank, the Kinexys platform has conducted over $4 trillion in cumulative transactions with an average daily volume of $7 billion.
"We are pleased that J.P. Morgan Payments is bringing JPM Coin to Ethereum. This is in line with a clear trajectory: JPM Coin is already operating on Base, J.P. Morgan Asset Management has tokenized money market funds on Ethereum, and Kinexys itself is built on Ethereum Virtual Machine technology," said Matthew Dawson, co-founder of Ethereum Institutional. "This is a clear signal that institutional finance is transitioning to public, verifiable infrastructure."
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.