Major news: America’s largest bank has brought its “on-chain dollar” directly to the Ethereum mainnet 🏦
Kinexys, JPMorgan Chase’s blockchain division, confirmed that its deposit token, JPM Coin (JPMD), has officially launched on Ethereum and is now available to institutional clients.
A few key points:
🔹 JPMD first launched on Base last November. This time, it’s expanding directly from a Layer 2 to Ethereum L1, with peer-to-peer transfers possible between the two chains.
🔹 Institutional clients can transfer dollar deposits 24/7, with settlement completed in seconds—no more waiting for bank business hours.
🔹 Behind it is a bank with more than $5 trillion in assets. Kinexys put the rationale plainly: Ethereum’s existing on-chain liquidity and tokenized assets are deep enough to make it the natural next step among public blockchains.
One thing to be clear about: JPMD isn’t a stablecoin like USDT or USDC. It’s a tokenized form of actual bank deposits, available only to approved institutions. Retail customers can’t buy it, and it isn’t traded on exchanges.
But the signal is clear: when Wall Street’s largest bank chooses a public blockchain for payments, it chooses Ethereum. Traditional finance is moving onto the blockchain, step by step.
Which major bank do you think will be next to move its deposits onto Ethereum?
#灰度联合Republic推出三只加密基金 #ETH #BTC
Kinexys, JPMorgan Chase’s blockchain division, confirmed that its deposit token, JPM Coin (JPMD), has officially launched on Ethereum and is now available to institutional clients.
A few key points:
🔹 JPMD first launched on Base last November. This time, it’s expanding directly from a Layer 2 to Ethereum L1, with peer-to-peer transfers possible between the two chains.
🔹 Institutional clients can transfer dollar deposits 24/7, with settlement completed in seconds—no more waiting for bank business hours.
🔹 Behind it is a bank with more than $5 trillion in assets. Kinexys put the rationale plainly: Ethereum’s existing on-chain liquidity and tokenized assets are deep enough to make it the natural next step among public blockchains.
One thing to be clear about: JPMD isn’t a stablecoin like USDT or USDC. It’s a tokenized form of actual bank deposits, available only to approved institutions. Retail customers can’t buy it, and it isn’t traded on exchanges.
But the signal is clear: when Wall Street’s largest bank chooses a public blockchain for payments, it chooses Ethereum. Traditional finance is moving onto the blockchain, step by step.
Which major bank do you think will be next to move its deposits onto Ethereum?
#灰度联合Republic推出三只加密基金 #ETH #BTC