J.P. Morgan announced on Oct. 19, 2026, that its JPM Coin USD deposit token, JPMD, is live on Ethereum and available to institutional clients. The launch extends the bank’s tokenized deposit-payment product to the public blockchain, allowing approved clients to make peer-to-peer transfers in the Ethereum Virtual Machine ecosystem.
JPMD goes live on Ethereum for approved institutions
The bank said JPMD is now available on Ethereum to institutional clients. Access is limited to approved institutions, making the announcement an expansion of the bank’s existing institutional payments infrastructure rather than a general consumer rollout.
JPMD enables those clients to conduct peer-to-peer transfers on both Ethereum and Base, according to J.P. Morgan. Both networks sit within the Ethereum Virtual Machine ecosystem, giving approved users payment capability across the two chains.
The deployment puts a J.P. Morgan-issued dollar deposit token on Ethereum, while preserving Base as another network where eligible clients can transfer JPMD. J.P. Morgan did not provide an Ethereum-specific transaction-volume figure in its announcement.
Ethereum selection follows JPM Coin’s Base deployment
Ethereum was selected as the next public blockchain for JPM Coin after Base because of its liquidity and existing institutional activity, J.P. Morgan said, as reported by CoinDesk.
That rationale centers on where institutional participants are already active, rather than suggesting that JPMD is being opened to the wider public. The product remains available to approved institutional clients under the terms outlined by the bank.
Adding Ethereum also gives the token a presence on the largest public network named in J.P. Morgan’s announcement, alongside its earlier Base deployment. The bank described the two networks together as destinations for peer-to-peer transfers by eligible users.
Kinexys cites $4 trillion in cumulative transaction volume
Kinexys, J.P. Morgan’s blockchain unit, reported more than $4 trillion in cumulative transactions across its platform, with average daily volume of $7 billion. The figures were published alongside the Ethereum launch in the bank’s announcement.
The reported metrics describe the Kinexys platform as a whole, not JPMD activity on Ethereum. Although the Ethereum deployment was announced on Oct. 19, the transaction and daily-volume figures refer to the broader platform’s stated scale.
