- JPMorgan made JPM Coin available to institutional clients on Ethereum mainnet, after first launching it on Base in November 2025.
- JPM Coin is a deposit token: each unit represents a dollar in a JPMorgan account, redeemable at any time, and only vetted counterparties can hold it.
- Kinexys averages about $7 billion a day in transactions, against roughly $12 trillion a day across JPMorgan's payments business.
- The bank expects crypto firms to use the token for payments and financial institutions to settle trades and post collateral.
- JPMorgan, Citigroup and other large banks plan a shared 24/7 tokenized deposit network as early as H1 2027.
Quotes
“Issuing JPM Coin first on Base and now on Ethereum is a meaningful step towards providing our institutional clients with multi-chain optionality for moving wholesale money across both the web3 and traditional finance ecosystems”
“a clear signal that institutional finance is moving onto public, verifiable infrastructure.”
“a compelling alternative”