[JPMorgan Expands JPM Coin USD Deposit Token to Ethereum Mainnet, Open to Institutional Clients] According to a report by Golden Finance on October 19, as disclosed by unfolded., JPMorgan is expanding its JPM Coin USD deposit token to the Ethereum network, targeting institutional clients. Previously, the token was launched in 2025 on Base (Coinbase's Ethereum Layer 2). The token represents actual bank deposits and enables near-instant, round-the-clock peer-to-peer transfers and settlements, avoiding delays associated with traditional banking operations. The token is still exclusively available to JPMorgan's institutional clients through Kinexys, does not support public trading, and is not open to retail customers. Catalyst: This marks an important step for banks in adopting public blockchains to enable programmable payments and collateralization. Details: This remains a permissioned and regulatory-compliant bank currency, rather than a decentralized stablecoin—while this limits broader DeFi composability, it reduces regulatory risks.