JPMorgan Expands JPM Coin to Ethereum, Strengthening Remittances for Institutional Investors

JPM Coin now supports Ethereum, enabling cross-network remittances with Base.

U.S. financial giant JPMorgan Chase has expanded its deposit token, JPM Coin (JPMD), to Ethereum, enhancing on-chain payment capabilities for institutional investors.

With this development, funds can now be moved between the existing Base and Ethereum (Ethereum) networks, broadening the range of payment methods utilizing bank deposits. JPMorgan's blockchain division, Kinexys, announced on October 19, 2026 (Monday) that JPM Coin has begun operating on Ethereum's L1 (Layer 1) network. This allows approved institutional investors to directly move and settle funds on a public blockchain.

JPM Coin is a deposit token that represents U.S. dollar deposits held at JPMorgan on a 1:1 basis, introduced on the L2 (Layer 2) network Base developed by Coinbase in November 2025.

Unlike typical stablecoins, the backing funds remain within the regulated banking infrastructure of the institution. Usage is limited to approved institutional investors, and it is not available for free trading by general investors.

While traditional bank transfers are subject to business hours and settlement days, JPM Coin allows for fund transfers 24/7, in seconds. Additionally, customers can convert to dollars without any lock-up period.

This expansion also supports P2P (peer-to-peer) remittances within the EVM (Ethereum Virtual Machine) ecosystem. JPM Coin can be moved between Base and Ethereum, allowing institutional investors to choose the network according to their needs.

Looking to Integrate with Tokenized Assets, Kinexys's Transaction Volume Exceeds $40 Trillion

Emma Landriault, Global Head of Kinexys Labs, cited abundant liquidity and existing usage by institutional investors as reasons for choosing Ethereum.

Cryptocurrency firms can utilize JPM Coin for blockchain payments, while financial institutions can leverage it for transaction settlements and collateral provision involving tokenized assets. Ethereum hosts tokenized assets such as stocks, bonds, and funds, and this expansion is expected to facilitate the use of payment methods linking these financial products with bank deposits.

JPMorgan is also set to launch tokenized money market funds on Ethereum in December 2025 and May 2026. Additionally, in January, it announced plans to extend JPM Coin to the Canton Network, a blockchain for financial markets.

The total transaction processing amount on the Kinexys platform has exceeded $40 trillion (approximately ¥632.8 trillion), with an average daily transaction volume reaching about $7 billion (approximately ¥1.1 trillion). However, specific transaction volumes and the number of participating institutions related to this Ethereum expansion have not been disclosed.

JPMorgan is connecting regulated bank deposits with public blockchains, advancing the integration of traditional financial markets with on-chain finance.

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