JPMorgan Chase has integrated its deposit token, JPM Coin (JPMD), into the Ethereum mainnet. According to Kinexys Labs, the asset is designed for institutional clients to facilitate on-chain payments, trade settlements, and collateral management. The bank selected Ethereum due to its high liquidity and existing client adoption.
Unlike standard stablecoins, JPMD represents a commercial bank liability. Access is restricted to approved institutional clients, and transactions are limited to addresses within a pre-approved whitelist. The token is not intended for retail use.
The bank previously launched JPMD on the Base L2 network in November 2025, following pilot tests with Mastercard, Coinbase, and B2C2. In January 2026, Kinexys and Digital Asset announced plans to expand the token to the Canton Network. JPMorgan intends to issue the token across multiple chains and add support for additional currencies.
In December 2025, the bank introduced the My OnChain Net Yield Fund (MONY) on Ethereum. This tokenized money market fund allows qualified investors to earn yields on dollar-denominated instruments via blockchain technology.
