JPMorgan Chase & Co. said transaction counts across its blockchain platforms have grown 30-fold since 2023, showing increased use of its services as the bank expands its digital payments business.
The figure appears in JPMorgan’s 2025 annual report, published April 6, 2026. The report also cites outside projections that the market for tokenized assets could reach $13 trillion by 2030. Tokenization represents assets through digital tokens.
The two figures measure different things. The 30-fold increase concerns the number of transactions on JPMorgan’s platforms, while the $13 trillion projection concerns the potential size of a wider market. The bank cited that projection rather than presenting it as its own forecast.
J.P. Morgan launched the payment system now called Kinexys Digital Payments in 2019. It adopted the Kinexys name in 2024, and its work has since extended to deposit tokens and digital versions of money market funds. The business operates under the name Kinexys by J.P. Morgan.
JPM Coin (JPMD), which represents U.S. dollar deposits at the bank, became available to institutional clients on Ethereum on Oct. 19, 2026. The expansion beyond its earlier Base offering gives those clients another network for transfers between compatible wallets.
J.P. Morgan cited institutional demand for cash that can be used on blockchain networks and pointed to Ethereum’s existing liquidity and tokenized assets when explaining the expansion. Its investment in digital finance also helps it compete with newer firms, the annual report said.
The bank said wider use of tokenized assets depends on clearer rules and protections comparable to those applied to conventional assets.
