JPMorgan has expanded its JPM Coin deposit token to Ethereum, giving institutional clients another way to move money onchain. The token now supports peer-to-peer transfers across the Ethereum Virtual Machine ecosystem, including Ethereum and Base. JPM Coin, also known as JPMD, represents deposits held at JPMorgan on a public blockchain, but the bank clarifies it is a deposit token and not a cryptocurrency or stablecoin. JPMorgan launched its first tokenized money-market fund on Ethereum in December 2025, followed by a second in May 2026. The expansion to the Canton Network, announced in January 2026, will be rolled out in phases throughout 2026.
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