TREE NEWS update: JPMorgan has chosen Ethereum as the blockchain for its JPM Coin dollar deposit token, citing the network’s liquidity and client use, a bank blockchain executive told Bloomberg. The token, aimed at large crypto firms and financial institutions, debuted on Base last year.
JPMorgan Picks Ethereum for JPM Coin, Citing Liquidity and Client Use
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AI take
The choice of Ethereum over a proprietary or alternative chain is a notable signal: the largest US bank is effectively endorsing public-chain infrastructure for institutional deposit tokens, with liquidity and existing client activity weighing more than control. That matters most for banks and large crypto firms weighing which rails to build settlement flows on, and it strengthens Ethereum's position as the default institutional venue. The open question is whether JPM Coin's presence on Base and now Ethereum sets a pattern other issuers follow, or remains a single-bank arrangement.
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