Peer-to-peer transactions are now supported for the token across the broader Ethereum Virtual Machine ecosystem, covering networks like Base and Ethereum.
JPMorgan’s USD-denominated deposit token, JPM Coin (JPMD), has now been brought to Ethereum for institutional clients as the bank continues its tokenization drive.
In a Monday statement shared with The Block, Ethereum’s “established depth of onchain liquidity and tokenized assets” was described by Kinexys by JPMorgan as making it a natural next public blockchain for JPMD, following its initial November 2025 rollout on Base.
A representation of JPMorgan’s existing bank deposits on a public blockchain is provided by JPMD, enabling institutional clients to execute onchain native payments with enhanced speed and efficiency, according to its website.
Peer-to-peer transfers are now supported for the token throughout the Ethereum Virtual Machine ecosystem, taking in networks like Base and Ethereum.
“Tokenized financial infrastructure is no longer theoretical. It’s already restructuring liquidity, settlement, and digital asset workflows,” Emma Landriault, global head of Kinexys Labs at Kinexys by J.P. Morgan, said in the statement.
JPMorgan Expands Its Broader Onchain Financial Strategy
This latest expansion is built upon the lender’s broader push to bring traditional financial instruments onchain, having launched its first tokenized money-market fund on Ethereum in December 2025 and a second fund in May 2026.
More than $4 trillion in cumulative transactions has been processed to date by the Kinexys platform, according to Monday’s statement from the bank, averaging $7 billion in daily volume.
“We’re delighted to see J.P. Morgan Payments bring JPM Coin to Ethereum. It builds on a clear trajectory: JPM Coin is already live on Base, J.P. Morgan Asset Management has tokenized money market funds on Ethereum, and the Kinexys platform itself is built on Ethereum Virtual Machine technology,”
said Matthew Dawson, co-founder of Ethereum Institutional.
“It’s a clear signal that institutional finance is moving onto public, verifiable infrastructure,”
Dawson added.
