JPMorgan's JPM Coin deposit token arrives on Ethereum
JPMorgan is making JPM Coin — its token representing U.S. dollar deposits at the bank — available to institutional clients on the Ethereum network, extending the token beyond its existing private blockchain footprint. Only the bank's own customers can hold it, and it is built for use cases like paying for tokenized stock trades rather than open DeFi, per CoinDesk's Austin Campbell.
- The move targets crypto firms and institutional clients that need a regulated digital token for blockchain payments and trade settlement.
- No launch date or additional technical details were disclosed.
Sources
- JP Morgan's deposit token lives on Ethereum, but only the bank’s own customers can hold it. @austincampbell says it’s built to pay for tokenized stock trades, not for DeFi. https://t.co/3YisiLaxlsx.com ↗
- JP Morgan's deposit token lives on Ethereum, but only the bank’s own customers can hold it. @austincampbell says it’s built to pay for tokenized stock trades, not for DeFi. https://t.co/aEqWU9pmS6x.com ↗
- NEW: @JPMorgan is bringing its JPM Coin deposit token to Ethereum, targeting crypto firms and institutional clients that need a regulated digital token for blockchain payments and trade settlement. https://t.co/CUd037WnuPx.com ↗
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