JPMorgan made the JPM Coin deposit token available on Ethereum on Oct. 19, giving institutional clients an additional public-blockchain route to send and receive dollar deposits. The rollout adds Ethereum’s mainnet to the token’s existing availability on Base.
JPMorgan said the expansion places tokenized cash on a network where institutions already transact with tokenized assets, collateral, and counterparties. It also brings the bank’s payment and investment offerings onto the same public blockchain.
JPM Coin, which uses the ticker JPMD, is a digital representation of a bank deposit. In its Ethereum announcement, the bank said the token supports peer-to-peer transfers among institutional clients across the Ethereum Virtual Machine ecosystem, including Base and Ethereum.
Access remains limited to institutional clients. Although the service operates on a public network, it is not available to all Ethereum wallet holders, and JPMorgan announced no retail release. The new route broadens where eligible clients can transact.
JPM Coin became available to institutional clients on Base on Nov. 12, 2025, following the start of a proof of concept in June 2025. Base is an Ethereum Layer 2 network. The October rollout added Ethereum’s Layer 1 mainnet, extending the deposit token’s reach across the broader Ethereum ecosystem.
Bank deposits alongside tokenized funds
JPMorgan Asset Management launched the My OnChain Net Yield Fund, or MONY, on Ethereum on Dec. 15, 2025. The private-placement money market fund is available to qualified investors through Morgan Money, the firm’s investment platform.
The JPMorgan OnChain Liquidity-Token Money Market Fund, or JLTXX, followed on May 13, 2026. It is a US-registered government money market fund that qualified investors can also access through Morgan Money.
The products serve distinct purposes: JPMD represents a bank deposit used for payments, while MONY and JLTXX provide tokenized exposure to funds. Access to a fund through Morgan Money does not establish eligibility to use JPM Coin.
Sharing Ethereum creates a closer environment for these payment and investment activities. However, the October announcement did not identify a live facility for using JPMD to subscribe to or redeem either fund. Their presence on the same network does not itself establish that integration.
JPMorgan identifies programmable treasury through institutional clients’ wallet interfaces as a potential use case for the deposit token.
For now, the Ethereum launch gives institutional clients another network for peer-to-peer money movement alongside their existing on-chain assets and counterparties.