Ethereum News: JPMorgan Brings Its JPM Coin Deposit Token to Ethereum
JPMorgan is bringing its USD-denominated deposit token, JPM Coin (JPMD), to Ethereum for institutional clients, Bloomberg reported on October 19.
JPM Coin represents U.S. dollar deposits at the bank.
The token first launched on Base, the Coinbase-linked blockchain, last year. It lets clients send and receive money in real time, 24/7.
J.P. Morgan’s tokenized money market funds, MONY and JLTXX, are already on Ethereum mainnet.
Ethereum jumped more than 1% to a 24-hour high of $2,445 and traded at $2,434.
Ethereum’s 24-hour trading volume rose 42%.
JPMorgan Chase is making its USD deposit token, JPM Coin (JPMD), available to institutional clients on Ethereum. Bloomberg reported the move on October 19.
This Ethereum news extends the token beyond Base, where it first launched last year.
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JPM Coin on Ethereum at a Glance
Key details:
Token: JPM Coin (JPMD), a USD-denominated deposit token
What it represents: U.S. dollar deposits at JPMorgan
New network: Ethereum
Available to: institutional clients
First launch: Base, the Coinbase-linked blockchain, last year
Function: send and receive money in real time, 24/7
Reported by: Bloomberg, October 19
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Main News: JPMorgan Extends JPM Coin to Ethereum
JPMorgan Chase is launching its deposit token on Ethereum. The token represents U.S. dollar deposits at the bank and is made available to its institutional clients on the Ethereum network.
The deposit token launched first on Base last year. It allows clients to send and receive money in real time and around the clock.
JPMorgan’s Other Products on Ethereum
J.P. Morgan has now added a cash leg to products already live on Ethereum mainnet. Its tokenized money market funds, MONY and JLTXX, are both already on the network.
JPM Coin (JPMD): the USD deposit token, now coming to Ethereum
MONY: tokenized money market fund, already on Ethereum mainnet
JLTXX: tokenized money market fund, already on Ethereum mainnet
Traders who monitor Ethereum on-chain activity and market signals can follow live data through SpotX.
Ethereum Price After the Report
Ethereum jumped more than 1% to a 24-hour high of $2,445. It was trading at $2,434 amid a recent rebound in the crypto market.
24-hour high: $2,445
Price at the time of the report: $2,434
Change in 24-hour trading volume: +42%
Summary: Ethereum News Today
JPMorgan is bringing JPM Coin (JPMD), its USD deposit token, to Ethereum for institutional clients, after launching it on Base last year.
Token: a USD deposit token that represents dollar deposits at the bank
Network: Ethereum, in addition to Base
Already on Ethereum mainnet: tokenized money market funds MONY and JLTXX
Ethereum price: $2,434, after a 24-hour high of $2,445
Source: Bloomberg, reported October 19
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Frequently asked questions
What is the latest Ethereum news on JPM Coin?
JPMorgan is making its USD deposit token, JPM Coin (JPMD), available to institutional clients on Ethereum, according to Bloomberg on October 19.
What is JPM Coin?
JPM Coin represents U.S. dollar deposits at JPMorgan. It lets institutional clients send and receive money in real time, 24/7.
Where was JPM Coin available before?
It first launched on Base, the Coinbase-linked blockchain, last year.
Which other J.P. Morgan products are on Ethereum?
Tokenized money market funds MONY and JLTXX are already on Ethereum mainnet.
How did the Ethereum price react?
Ethereum jumped more than 1% to a 24-hour high of $2,445 and was trading at $2,434, with 24-hour trading volume up 42%.