The largest US bank has been using the Ethereum mainnet for its own payments since October 19, 2026. JPMorgan has rolled out JPM Coin, or JPMD, there. It is a deposit token denominated in US dollars: each unit represents one dollar a client holds at the bank. Until now JPMD had run on Base since November 2025, a layer-2 network developed at Coinbase. The step was reported among others by The Block, to which the bank's Kinexys unit said the existing depth of liquidity and tokenised assets on Ethereum made the network the obvious next public blockchain for JPMD.
For investors in Germany the news matters for a different reason than it does for the bank. JPMD is not a token anyone can buy, and going by everything JPMorgan has published about it, it will not become one. What it shows is the direction of travel: bank money is moving onto the same blockchain that holds Ether and the familiar stablecoins. And it makes visible how differently the law treats two things that look identical on screen.
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English (US)