JPMorgan is bringing its deposit token JPM Coin (ticker JPMD) to Ethereum mainnet for institutional clients, per Bloomberg as flagged today by Coin Bureau and Cointelegraph.

JPMD is not a stablecoin but a USD deposit at the bank recorded onchain, moving 24/7 in seconds while funds stay on JPMorgan's balance sheet and can earn interest.

Ethereum is the second public network after Base, where it has lived since November 2025 after a pilot with Coinbase, Mastercard and B2C2.

Per Bloomberg and TokenPost summaries, the bank targets large crypto clients for onchain payments and financial institutions settling tokenized asset trades or posting collateral.

The token stays permissioned, only for approved clients via Kinexys, with no public trading or DeFi composability.

Volumes on Ethereum and the first transfer date were not disclosed; Kinexys overall processes over $7B per day.

This is separate from the Oct 6 Solana DvP launch where JPMorgan only gave input on settlement practices, with no live deployment established (Solana Foundation).

The sources do not name a JPMD contract address or fee schedule.