JPMorgan plans to bring JPM Coin, its dollar-denominated deposit token, to Ethereum for approved counterparties, according to Bloomberg, which cited the head of Kinexys Labs. The bank cited public-chain liquidity: the chain offers more liquidity than rival networks and is already used by institutional clients.
The Block reported that the token now supports peer-to-peer transfers within the Ethereum Virtual Machine ecosystem, including Base.
The approved-counterparty restriction sets the practical market size: on a public chain the ledger is open, but JPMorgan decides who may hold and transfer the token.
Reported by The Wrap desk from Bloomberg and The Block. Published . Corrections