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JPMorgan's JPM Coin, representing dollar deposits, is coming to Ethereum: Bloomberg

JPMorgan's dollar deposit token is heading to Ethereum in a sign of the lender getting more comfortable with public blockchains.

JPMorgan's JPM Coin, representing dollar deposits, is coming to Ethereum: Bloomberg
2 min read
JPMorgan Chase & Co. in London
JPMorgan to bring JPM Coin to Ethereum. (Ikechukwu Julius Ugwu/Unsplash)
Summary
  • JPMorgan will make JPM Coin, a token representing dollar deposits at the bank, available to institutional clients on Ethereum, Bloomberg reported.
  • The bank said Ethereum’s liquidity makes it attractive for crypto companies seeking blockchain payments and financial firms settling trades or backing tokenized assets.
  • The move expands JPMorgan’s blockchain efforts beyond its private Kinexys network, which processes more than $7 billion in transactions daily.
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