JPMorgan takes JPM Coin to Ethereum for institutional clients: Report

JPMorgan is reportedly expanding its JPM Coin deposit token to Ethereum, allowing institutional clients to make payments and settle tokenized asset transactions.

JPMorgan Chase, the world’s biggest bank by market capitalization, is expanding its JPM Coin deposit token to Ethereum, Bloomberg reported on Monday.

JPM Coin represents US dollar deposits held at JPMorgan and lets eligible clients transfer funds within seconds, around the clock.

Emma Landriault, global head of Kinexys Labs, said crypto companies could use the token for blockchain payments, while financial institutions could use it to settle trades and post collateral.

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