Ethereum
JPMorgan Blockchain Platform Kinexys Deploys JPM Coin on Ethereum Mainnet
JPMorgan has expanded its deposit token JPM Coin to the Ethereum mainnet to provide institutional clients with on-chain dollar liquidity.
JPMorgan’s blockchain unit, Kinexys, has made its bank deposit token JPM Coin (JPMD) accessible on the Ethereum mainnet for institutional users. Oli Harris, global head of Kinexys, announced the deployment on LinkedIn, citing institutional demand for dollar liquidity in active on-chain environments.
JPM Coin serves as a digital representation of commercial bank deposits held within JPMorgan accounts, with underlying funds remaining within the bank’s regulated infrastructure. The Ethereum deployment follows the token’s previous launch late last year on Base, the layer-2 network developed by Coinbase.
The expansion builds on JPMorgan's tokenized offerings on Ethereum, which include the MONY money market fund launched in December and the JLTXX fund introduced in May. According to bank figures from August, Kinexys has processed over $4 trillion in total payments since its inception, with daily transaction volumes averaging $7 billion.
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