JPMorgan Expands Crypto Deposit Token JPM Coin to Ethereum

Kinexys, the blockchain division within J.P. Morgan Payments, has expanded its USD deposit token, JPM Coin or JPMD, onto Ethereum’s mainnet, making it available to the bank’s institutional clients. The token was already live on Base, an Ethereum Layer 2 network, and the move lets clients transfer wholesale funds on Ethereum as well as Base. J.P. Morgan Asset Management launched tokenized money market funds on Ethereum earlier this year, and Kinexys itself is built on Ethereum Virtual Machine technology.