Kinexys, J.P. Morgan’s blockchain business unit, has expanded the reach of its JPM Coin (ticker: JPMD) by bringing the USD-denominated deposit token to Ethereum. This move follows the token’s earlier availability on Base, an Ethereum Layer 2 blockchain, and aims to provide institutional clients with broader access to onchain cash solutions.
Ethereum’s deep liquidity and tokenized assets make it an ideal platform for JPM Coin, allowing institutional clients to transfer money quickly and securely. The token’s availability on both Ethereum and Base enhances the scale of access to onchain cash, aligning with the assets and counterparties clients already use.
Matthew Dawson, Co-Founder of Ethereum Institutional, welcomed the move, highlighting Ethereum’s unmatched liquidity depth, tokenized assets, and security. He noted that J.P. Morgan’s choice reflects the growing trend of institutional finance moving onto public, verifiable blockchain infrastructure.
Emma Landriault, Global Head of Kinexys Labs, emphasized that tokenized financial infrastructure is already restructuring liquidity and settlement workflows. The expansion of JPM Coin to Ethereum offers institutional clients multi-chain optionality for moving wholesale money across web3 and traditional finance ecosystems.
Launched in November 2025, JPM Coin supports peer-to-peer transfers within the Ethereum Virtual Machine (EVM) ecosystem, reducing friction and enabling programmable treasury functions. The Kinexys platform has processed over $4 trillion in cumulative transactions since its inception, with an average daily transaction volume of $7 billion.