JPMorgan Chase is expanding its blockchain-based payment system by making JPM Coin available to institutional clients on the Ethereum mainnet. The token first launched on Base, an Ethereum Layer 2 network, in November 2025.
JPM Coin is a deposit token representing a digital claim on U.S. dollar deposits held at JPMorgan Chase. It is not available to retail customers.
The Ethereum expansion is intended to give institutional clients, including crypto firms and other financial institutions, a regulated, on-chain way to make payments and settle transactions 24/7. The system enables near-instant fund transfers for settling trades in tokenized assets or posting collateral. JPMorgan’s blockchain unit, Kinexys, cited Ethereum’s deep liquidity and established base of institutional users as key reasons for the move.