JPMorgan Chase has launched its USD deposit token, JPM Coin (JPMD), on the Ethereum mainnet, according to Bloomberg and posts from Ethereum Institutional.
The token, previously available on Coinbase‑linked Base, now gives institutional clients native on-chain cash alongside the assets, collateral and counterparties they already transact with on Ethereum.
The bank has added a cash leg to its existing onchain products, with tokenized money‑market funds MONY and JLTXX already live on the network. Ethereum Institutional said the expansion reinforces Ethereum’s position as the primary venue for institutional onchain finance.
Bloomberg reported that JPMorgan’s move forms part of a broader push by major financial institutions to extend payments and settlement activity onto public blockchain infrastructure.
