JPMorgan Chase Launches JPM Coin on Ethereum Network

JPMorgan Chase & Co. is launching JPM Coin, a deposit token representing US dollar deposits, on the Ethereum network for its institutional clients. This expansion follows an initial launch on Base, a blockchain affiliated with Coinbase Global Inc., and reflects growing institutional comfort with public blockchain networks.

JPM Coin allows clients to send and receive funds in seconds on a 24/7 basis. By utilizing blockchain technology, the bank enables institutional users to bypass the restricted operating hours and multi-day settlement delays typical of traditional banking systems.