JPMorgan Chase’s Kinexys division announced on October 19, 2026, that JPM Coin is live on Ethereum mainnet for approved institutional clients. The dollar-denominated token, also known as JPMD, represents a one-to-one claim on deposits held at JPMorgan. Its Ethereum deployment extends availability beyond Coinbase’s Base network and allows approved counterparties to initiate peer-to-peer transfers around the clock across Ethereum Virtual Machine networks. The expansion does not make JPM Coin a retail product or open it to decentralized exchange trading. Unlike a reserve-backed stablecoin issued by a non-bank entity, JPMD is a permissioned commercial bank deposit token. JPMorgan first deployed it on a public blockchain through Base in November 2025, following a pilot with B2C2, Coinbase and Mastercard. Kinexys says it is also working to issue JPM Coin natively on the Canton Network during 2026 for privacy-enabled institutional financial market settlement.