Wall Street giant JPMorgan is bringing its USD-denominated deposit token JPM Coin (JPMD) to Ethereum for institutional clients. Ethereum’s “established depth of onchain liquidity and tokenized assets” makes it a natural next public blockchain for JPMD.
JPMorgan Brings Deposit Token to Ethereum for Institutional Clients
$5 trillion AUM JPMorgan Chase is launching its deposit token on Ethereum, extending the lender’s push into blockchain payments as Wall Street grows more comfortable moving money on public networks.
JPM Coin represents US dollar deposits at the bank and is made available to the company’s institutional clients on the Ethereum network, Bloomberg reported on October 19.
The deposit token was first launched on Coinbase-linked blockchain Base last year. It allows clients to send and receive money in real time and 24/7.
“We’ve clearly been in a year of further convergence between Wall Street and crypto,” said Emma Landriault, global head of Kinexys Labs at JPMorgan. “It’s not just Wall Street going to public chains, but the institutional web3 players getting more embedded and partnering with traditional financial institutions,” she added.
The expansion comes as banks and other large financial firms seek ways to move assets faster and beyond the limitations of traditional systems. TradFi-crypto convergence has witnessed massive adoption on the tokenization side.
JPM Coin is now live on Ethereum mainnet for institutional clients. Another meaningful step for institutional finance on public infrastructure! https://t.co/MeAKUP0461
— Marius Smith (@mariuslsmith) October 19, 2026
J.P. Morgan has now added a cash leg to the products it already live on Ethereum mainnet, with tokenized money market funds MONY and JLTXX both already on the network.
As CoinGape reported, JPMorgan is expanding its Digital Assets and Blockchain Solutions team as it explores tokenized deposits, blockchain payments, digital assets and new products for consumers.
Ethereum price jumped more than 1% to hit a 24-hour high of $2,445. The price is currently trading at $2,434 amid a recent rebound in the crypto market. Trading volume has also increased by 42% over the last 24 hours, indicating a rise in interest among traders.
As global banks deploy money market funds and deposit tokens on public blockchains, institutions require regulated institutional custody solutions for tokenized assets to safeguard capital.
