JPMorgan Moves JPM Coin to Ethereum for Institutional Settlements

The expansion allows qualified institutions to leverage Ethereum’s established on-chain liquidity, moving funds in seconds without the constraints of conventional banking hours. While JPM Coin now operates on a public network, it remains strictly gated; only pre-approved customers who meet the bank’s compliance and account requirements can hold or transfer the tokens. The bank emphasized that JPMD represents a direct commercial bank deposit obligation, distinct from public stablecoins available to retail investors.

This deployment follows the bank’s November 2025 launch of JPMD on Coinbase’s Layer 2 network, Base. According to Emma Landriault, global head of Kinexys Labs, the Ethereum integration is tailored specifically for institutional needs, such as settling trades and providing collateral for tokenized assets. The bank’s Kinexys platform, which manages these blockchain-based deposit accounts, currently processes approximately $7 billion in daily volume across its infrastructure. Despite the move to Ethereum, JPMorgan continues to develop separate pathways for institutional privacy, including a phased integration of JPMD onto the Canton Network planned through 2026.