JPMorgan's JPM Coin Arrives on Ethereum, Putting Bank Dollars on a Public Blockchain

What happened: JPMorgan launched JPM Coin on Ethereum for institutional clients, who can redeem the token for dollars at any time. It first launched on Coinbase's Base network in November 2025. Key numbers: Kinexys has handled over $4 trillion in cumulative transactions and about $7 billion a day, versus roughly $12 trillion a day Why it matters: The bank expects crypto firms to use the token for payments and institutions to settle trades and post collateral. Kinexys co-head Naveen Mallela has called deposit tokens a compelling alternative to stablecoins because they can be yield-bearing. Coverage: 4 outlets in 24h

JPMorgan launched JPM Coin on Ethereum for institutional clients, who can redeem the token for dollars at any time. It first launched on Coinbase's Base network in November 2025.

The bank expects crypto firms to use the token for payments and institutions to settle trades and post collateral. Kinexys co-head Naveen Mallela has called deposit tokens a compelling alternative to stablecoins because they can be yield-bearing.