JPMorgan is now on two networks: since November 2025, its deposit token JPMD has been on Base, and since October 19, it’s also been on Ethereum
It’s not a stablecoin. It’s money in a bank account wrapped in a token, and it only moves between approved institutions.
Why Ethereum? JPMorgan’s own tokenized funds, MONY and JLTXX, are already there. Now the money and the funds are on the same network.
The bank won’t say how much JPMD is circulating on Ethereum.
The only figure is for the entire Kinexys platform: over $4 trillion in total. You can see the scale of the bank, but not the scale of this particular token.
What I take away from this: the bank needs a network, but it doesn’t need ETH on its balance sheet for that. So this news doesn’t change much for the coin itself.
I’m not holding ETH. I’m looking at 2807; the 30-day high is $ETH
: the price is currently 14.6% below it. When banking news starts pushing the price back up there, then I’ll talk about demand. For now, all I see are rails.
#JPMorgan #Ethereum
It’s not a stablecoin. It’s money in a bank account wrapped in a token, and it only moves between approved institutions.
Why Ethereum? JPMorgan’s own tokenized funds, MONY and JLTXX, are already there. Now the money and the funds are on the same network.
The bank won’t say how much JPMD is circulating on Ethereum.
The only figure is for the entire Kinexys platform: over $4 trillion in total. You can see the scale of the bank, but not the scale of this particular token.
What I take away from this: the bank needs a network, but it doesn’t need ETH on its balance sheet for that. So this news doesn’t change much for the coin itself.
I’m not holding ETH. I’m looking at 2807; the 30-day high is $ETH
: the price is currently 14.6% below it. When banking news starts pushing the price back up there, then I’ll talk about demand. For now, all I see are rails.
#JPMorgan #Ethereum