JPMorgan has deployed JPM Coin on Ethereum for institutional clients, enabling dollar transfers in seconds at any time, including Sunday nights. The token, first launched on Coinbase’s Base network in November 2025, is a deposit token backed by dollars held at the bank and redeemable at any time; only vetted counterparties can hold it. The Kinexys unit behind the token has processed over $4 trillion in cumulative transactions, averaging roughly $7 billion daily, against approximately $12 trillion a day across JPMorgan’s wider payments business. JPM Coin’s arrival on Ethereum signals the growing convergence between traditional finance and decentralized finance, with roughly $50 billion already circulating in applications on this blockchain.
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