JPMorgan's JPM Coin debuted at Ethereum with two networks accepting transfers.

JPMorgan expanded JPM Coin to Ethereum after its launch on Base in November.2025

JPMorgan expanded the use of JPM Coin as a deposit token to its Ethereum network, opening up new channels for institutional clients to transfer funds on the blockchain. This move moved such dollar-denominated tokens out of the scope of Base, which was the first JPM coin launched in November.2025

JPM Coin or JPMD is an alternative to deposits held with JP Morgan on a public blockchain. Such tokens enable the institution's customers to make payments on chains faster and more efficiently, by supporting cross-border transfers across Ethereum Virtual Machine ecosystems including Ethereum and Base. This expansion aligns with the bank's efforts to bring traditional financial instruments into the blockchain network.2025

JPM Coin is not a stablecoin.

Emma Landriault, global head of JPMorgan's Kinexys Labs commented that "this year has clearly been a year of greater integration between Wall Street and crypto, not just by Wall Street going public but also including institutional players taking on more roles and engaging with traditional financial institutions".

In addition to JPMD, JP Morgan has continued to build on Ethereum by launching its first token-based money market fund on the network in December,[24] and a second one in May.[25] The bank emphasizes that JPM Coin is a fiat currency token rather than cryptocurrency or stablecoin. Despite using blockchain technology, the funds remain within the infrastructure governing the banking supervision as stated on the official website: 'Your money never leaves your bank's regulated system.'

Expand to the Canton Network.

An extension of the token to Canton Network, a privacy-focused blockchain for financial markets, was announced in January this year. The proposed link would enable institutions to issue, transfer and withdraw JPMD virtually instantaneously within the Canton network, with plans to roll out phases throughout the year.2026

A commitment to institutional clients.

For institutional clients, the expansion of JPM Coin to Ethereum adds options for transfers and payments on a public blockchain network while still sticking with JP Morgan's managed infrastructure. Additionally, developments at Ethereum , and Canton also reflect that the bank is paving the way for traditional financial instruments to work on an expanded blockchain network without changing its status as a cryptocurrency or stablecoin.[citation needed]

The news was first reported by CryptoPotato