JPMorgan Expands JPM Coin Onchain Use Amid Rising Demand for Fast Settlement

JPMorgan has expanded the availability of its USD-denominated deposit token, JPM Coin (JPMD), to institutional clients on Base, a Layer 2 Ethereum blockchain developed by Coinbase. This move reflects growing demand for faster settlement solutions using public blockchain networks.

The bank announced on Nov. 12 that JPMD, previously tested in closed environments, is now accessible to institutions seeking efficient digital payments and liquidity management on public blockchain infrastructure.

JPM Coin Now Accessible on Coinbase Base

Following a successful proof-of-concept phase, JPMorgan enables its institutional clients to use JPM Coin on Base, an Ethereum Virtual Machine (EVM)–compatible Layer 2 network. This allows near real-time payments between wallets on a public blockchain, representing a significant shift from JPMorgan’s prior private network deployments.

JPMorgan highlighted that JPM Coin acts as a digital representation of a bank deposit on public blockchains, offering a seamless onchain payment option. The firm aims to serve both digitally native businesses and traditional institutions looking to engage more deeply with digital assets.

Advancing Blockchain Financial Infrastructure

Kinexys by JPMorgan, a unit focused on blockchain infrastructure since 2015, has extended its framework by introducing USD deposit tokens to a public network for the first time. This infrastructure supports near-instant transfers and enables the integration of smart contracts to automate complex financial processes.

Industry analysts note that regulated deposit tokens like JPM Coin can improve liquidity management, enhance settlement reliability, and increase institutional participation in tokenized finance by combining bank-backed guarantees with programmable features.

Summary Table: JPM Coin Expansion Details