JPMorgan launches JPM Coin on Ethereum for institutional clients
+1 new source since this summary was written
JPMorgan announced that its USD‑denominated deposit token, JPM Coin, is now available on the Ethereum mainnet for approved institutional customers. The token, which represents U.S. dollar deposits at the bank, was first launched on the Base blockchain in November 2025 and will now operate on Ethereum to leverage its liquidity. JPMorgan’s Kinexys platform, which underlies the token, has processed over $4 trillion in cumulative transactions since launch.
Why it matters
The bank expects the Ethereum expansion to attract large crypto‑sector clients and other financial institutions seeking on‑chain payment and settlement capabilities, potentially increasing Kinexys transaction volume (the company said it expects higher usage).
Key facts
- 1JPM Coin was launched on the Base blockchain in November 2025. theedgemalaysia.com
- 2On October 19 2026 JPMorgan announced the token’s availability on the Ethereum mainnet for institutional clients. theedgemalaysia.com
- 3JPM Coin represents U.S. dollar deposits held at JPMorgan. theedgemalaysia.com
- 4Ethereum was chosen because it holds about US$50 billion in assets locked in applications, according to DefiLlama data. theedgemalaysia.com
- 5Kinexys has processed over $4 trillion in cumulative transactions to date. theblock.co
- 6The platform’s average daily transaction volume is reported as $7 billion and $7 million. theblock.co
Open questions
- Average daily transaction volume of the Kinexys platform differs between sources: $7 billion versus $7 million.
Summary written by AlphAI AI Desk from 8 of 8 sources. Not investment advice. Figures are as stated by the linked sources.