According to CoinMeta, JPMorgan Chase announced on October 19 the launch of its dollar-denominated deposit token JP Coin (also known as JPMD) on the Ethereum mainnet, providing approved institutional clients with a way to transfer their tokenized deposits around the clock. This token has been operating on the Ethereum network since November 2025, and now its deployment on Ethereum adds a second public platform for it. JP Coin represents claims to funds held by JPMorgan Chase and is recorded as a token on the blockchain. Institutions holding dollars can transfer portions of their balances on JPMorgan Chase’s blockchain-based deposit accounts and send them in real-time to other approved wallets. Since this token remains a liability on JPMorgan Chase’s balance sheet and is subject to the same regulatory framework, it also allows for interest payments. JPMorgan Chase noted that there are a large number of tokenized assets and customer demands on Ethereum, and it expects that crypto companies looking to transfer dollar liquidity without relying entirely on stablecoins will make use of this token.