JPMorgan expands JPM Coin deposit token to Ethereum, Bloomberg reports
In brief
- JPMorgan is expanding its JPM Coin deposit token to Ethereum, Bloomberg reported, per Cointelegraph.
- Institutional clients would use the token for payments and to settle tokenized asset transactions.
- Kinexys Labs' Emma Landriault cited Ethereum's liquidity and existing use among clients.
- JPM Coin stays limited to approved institutional participants despite being issued on public networks.
- JPMorgan didn't immediately respond to Cointelegraph's request for more details.
Why Ethereum, according to Kinexys
Emma Landriault, global head of Kinexys Labs, said JPMorgan chose Ethereum for its liquidity and its existing use among clients, according to Bloomberg's report as cited by Cointelegraph. She described two groups of users. Crypto companies could use the token for blockchain payments, Landriault said, while financial institutions could use it to settle trades and post collateral.
Those remarks come from Bloomberg's reporting, not from an interview with LeoDex News. JPMorgan didn't immediately respond when Cointelegraph asked for more details. For now, it's a reported expansion and not an official announcement from the bank.
Public chain, approved users only
The tokens are issued on public networks. That doesn't mean anyone can hold them, though (JPM Coin will stay restricted to approved institutional participants, per the same report).
The rails are public. The access isn't.
From Base to Canton to Ethereum
Cointelegraph's report also gave some background. The Ethereum expansion follows JPMorgan's November 2025 rollout of JPM Coin on Base, the Ethereum layer-2 network built by Coinbase. At the time, JPMorgan said it planned to support additional public blockchains. In January, the bank announced plans to bring JPM Coin to the Canton Network.
Cointelegraph describes JPMorgan as the world's biggest bank by market capitalization. The report doesn't include a launch date, transaction volumes or client names, and we won't guess at any of them until the bank says more on the record.
Frequently asked questions
What is JPM Coin?
JPM Coin is a deposit token that represents US dollar deposits held at JPMorgan. It lets eligible clients transfer funds within seconds, around the clock. The tokens are issued on public networks, but JPM Coin remains restricted to approved institutional participants, according to Cointelegraph.
Why did JPMorgan reportedly choose Ethereum for JPM Coin?
Emma Landriault, global head of Kinexys Labs, said JPMorgan chose Ethereum for its liquidity and its existing use among clients, according to Bloomberg's report as cited by Cointelegraph. She said crypto companies could use the token for blockchain payments, while financial institutions could use it to settle trades and post collateral.
