JPMorgan Expands JPM Coin to Ethereum for Institutional Settlements

JPMorgan Chase, the world's largest bank by market capitalization, is reportedly expanding its JPM Coin deposit token to Ethereum, enabling institutional clients to make blockchain-based payments and settle tokenized asset transactions. According to a Monday Bloomberg report, the move broadens access to JPM Coin beyond the bank's private networks, leveraging Ethereum's deep liquidity and established institutional user base.

JPM Coin represents US dollar deposits held at JPMorgan and allows eligible clients to transfer funds within seconds on a 24/7 basis. Emma Landriault, global head of Kinexys Labs, said crypto companies could use the token for blockchain payments, while traditional financial institutions could leverage it to settle trades and post collateral. Despite issuing the tokens on public networks, JPMorgan will keep JPM Coin restricted to approved institutional participants to comply with compliance and regulatory requirements.

The Ethereum expansion builds on JPMorgan's November 2025 rollout of JPM Coin on Base, an Ethereum layer-2 network developed by Coinbase. At that time, the bank signaled plans to support additional public blockchains, a strategy it advanced in January with an announcement to bring JPM Coin to the Canton Network. The phased multi-chain approach positions JPMorgan alongside other major institutions testing blockchain-based settlement, including Argentine banks reportedly piloting JPM Coin to accelerate domestic transaction processing.