JPMorgan Sends JPM Coin to Ethereum — Wall Street's Favourite Hometoken Moves Uptown 🏦

JPMorgan Chase is expanding its JPM Coin US dollar-deposit token to the Ethereum network for institutional clients, according to a Bloomberg report on Monday. The bank, the world's largest by market capitalization, said the move will extend JPM Coin beyond the Coinbase-linked layer-2 network Base, where the deposit token was introduced in November 2025.

JPM Coin represents US dollar deposits held at JPMorgan and enables eligible clients to transfer funds around the clock within seconds. While the tokens are issued on public networks, JPM Coin will remain restricted to approved institutional participants.

Emma Landriault, global head of Kinexys Labs at JPMorgan, said Ethereum was selected for its established depth of onchain liquidity and tokenized assets, as well as existing usage among clients. Landriault said crypto companies could use the token for blockchain payments, while financial institutions could use it to settle trades and post collateral.

"We've clearly been in a year of further convergence between Wall Street and crypto," Landriault said. "It's not just Wall Street going to public chains, but the institutional web3 players" engaging with traditional finance.

The Ethereum expansion follows JPMorgan's rollout of JPM Coin on Base in November 2025, when the bank said it planned to support additional public blockchains. In January, JPMorgan announced plans to bring JPM Coin to the Canton Network. Cointelegraph contacted the bank for comment but did not receive an immediate response.

Separately, Argentine banks have reportedly been testing JPM Coin to accelerate settlements. JPMorgan Chase managed approximately $5 trillion in assets under administration, according to details cited in the report.