JPMorgan Chase & Co. announced an expansion of its dollar deposit token, JPM Coin (JPMD), to Ethereum on Oct. 19, seeking to widen round-the-clock payment options for institutional clients.
The bank already offers JPMD on Base, an Ethereum layer 2 network built within Coinbase. The latest announcement covers Ethereum’s mainnet. Although that network is public, JPMorgan limits use of its token to approved counterparties.
JPMD represents U.S. dollar deposits and allows eligible clients to move funds at any hour. JPMorgan says transfers can be completed in seconds. Conventional payment processes may depend on banking hours and take days to settle.
Bloomberg reported that Emma Landriault, global head of Kinexys Labs, expects cryptocurrency firms to use JPMD for payments. She also described possible uses by financial institutions in settling transactions involving tokenized assets or posting collateral. Landriault cited Ethereum’s liquidity and its existing use by clients as reasons for the expansion.
JPMorgan made the token available on Base on Nov. 12, 2025. Before that launch, B2C2, Coinbase and Mastercard took part in a proof of concept that involved issuing and redeeming JPMD.
