JPMorgan's JPM Coin Arrives on Ethereum, Putting Bank Dollars on a Public Blockchain
Summary
JPMorgan is bringing JPM Coin, its dollar-backed deposit token for approved counterparties, to Ethereum, enabling round-the-clock transfers and payments. The token already operates on Base and is planned for Canton Network; holders can move it between Ethereum and Base. JPMorgan sees potential uses in crypto payments, tokenized-asset settlement and collateral. The move expands the bank’s blockchain efforts amid competition with stablecoin issuers. Kinexys has processed more than $4 trillion cumulatively, averaging about $7 billion daily. JPMorgan and other banks are also planning a shared 24/7 tokenized-deposit network for 2027.
