Technology · 2026-10-19 · Morning briefing

JPMorgan to offer US dollar deposit token on Ethereum

JPMorgan Chase & Co. announced on Monday it will make its deposit token, JPM Coin, available on the Ethereum network for its institutional clients. The token is a digital representation of US dollar deposits held at the bank, allowing for their transfer across the public blockchain.

The primary function is to enable near-instantaneous payments, 24 hours a day. This contrasts with traditional wire transfers, which can take several days to settle and are restricted to banking hours. The expansion to Ethereum follows the token's initial launch last year on Base, a blockchain network affiliated with Coinbase.

By bringing a core financial instrument to a major public blockchain, the largest US bank is moving beyond more private, permissioned systems for its digital currency efforts. The step represents a concrete integration of established Wall Street infrastructure with decentralized financial networks.

Summary written by Cup of News with AI from the sources below. Check the originals for the full story.

Read the sources

• America's Biggest Banks Are Building One Deposit Token. History Is The Hard Part.
• Is JP Morgan's Bitcoin Embrace Real? Bank Won't Even Hold the Ethereum Tokens in New Scheme
• JPMorgan Crypto Revolution: Will Tokenized Deposits Kill Stablecoins?
• Banks Rush to Tokenize Deposits as Stablecoin Networks Beat Them to Shared Payment Rails
• Stablecoins vs. Tokenized Bank Deposits: How Companies Can Choose a Settlement Method

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