JPMorgan is reportedly expanding JPM Coin to Ethereum, allowing institutional clients to process payments and settle transactions involving tokenized assets on the blockchain.
According to a Bloomberg report published on Monday, the banking giant is extending its blockchain-based payment services to Ethereum as institutional interest in digital assets continues to develop.
How JPM Coin on Ethereum Will Work
JPM Coin is a deposit token backed by US dollar deposits held at JPMorgan. It enables eligible institutional clients to transfer funds within seconds, 24 hours a day, seven days a week.
Emma Landriault, global head of Kinexys Labs, explained that the token could serve different purposes across the financial industry.
For example, cryptocurrency companies could use JPM Coin to facilitate blockchain payments. Meanwhile, traditional financial institutions could use it to settle transactions and provide collateral.
Ethereum’s liquidity and established institutional adoption played a significant role in JPMorgan’s decision to expand to the network.
However, despite operating on public blockchains, JPM Coin will remain accessible exclusively to approved institutional participants.
JPMorgan Continues Its Blockchain Expansion
The latest development follows JPMorgan’s November 2025 introduction of JPM Coin on Base, an Ethereum layer-2 blockchain developed by cryptocurrency exchange Coinbase.
At the time, the bank confirmed its intention to expand the deposit token to additional public blockchain networks.
Furthermore, in January 2026, JPMorgan announced plans to introduce JPM Coin to the Canton Network, reinforcing its broader strategy to integrate blockchain technology into institutional financial services.
The Ethereum expansion represents another step in the bank’s efforts to support blockchain-based payments, tokenized asset settlements and institutional transactions.
Cointelegraph reportedly contacted JPMorgan for further clarification regarding the development. However, the bank had not provided an immediate response at the time of publication.
