JPMorgan is launching JPM Coin, its dollar deposit token, on Ethereum and will offer it to institutional clients there, as announced Monday and reported by Bloomberg. Emma Landriault, global head of Kinexys Labs, said Ethereum's liquidity and the fact that the bank's clients already use it drove the choice. The token targets large crypto firms that pay onchain and financial institutions active in tokenized assets, which can use it as onchain cash to settle trades or as collateral. JPM Coin debuted last year on Base, and it lets clients move dollars in seconds at any hour, whereas a transfer can otherwise take several days. JPMorgan's private Kinexys network already handles daily volume above $7 billion, the bank's payments arm handles around $12 trillion in daily payments, and Open Standard launched its OUSD stablecoin on Ethereum, Solana, Base and Tempo last month.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
JPMorganstablecoinscryptoETHUSDTbanks
Open a keyword to see other news on the same topic.
Related tickers and likely impact
ETH/USDT
▲ Likely positiveEthereum
Relevance: high
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $294.2B |
| Close on 10/18/2026 | 2,410.31 |
| Change that session | +0.31% |
JPM
• NeutralJPMorgan Chase
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Financials |
| Industry | Diversified Banks |
| Market cap | $891.9B |
| Close on 10/16/2026 | 339.67 |
| Change that session | +1.23% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- JPMorgan's JPM Coin, representing dollar deposits, is coming to Ethereum: Bloomberg
JPMorgan will make JPM Coin, a token representing its dollar deposits, available to institutional clients on Ethereum, according to Bloomberg. The bank says Ethereum's liquidity makes it attractive to crypto companies seeking blockchain payments and to financial firms settling trades or backing tokenized assets. The move extends JPMorgan's blockchain work beyond Base and its private Kinexys network, which processes more than $7 billion daily. The bank did not say when the token will go live on Ethereum. Meanwhile, JPMorgan is among US banks planning a shared tokenized deposit network, but it was not on Swift's list of 17 banks preparing live transactions on its blockchain ledger in July.
- BREAKING: JPMorgan Expands JPM Coin Deposit Token to Ethereum Network
JPMorgan is bringing its USD-denominated deposit token, JPM Coin (JPMD), to the Ethereum mainnet for institutional clients, extending its push into blockchain payments. The token, which represents US dollar deposits at the bank, was first launched last year on Base and lets clients send and receive money in real time, 24/7. Emma Landriault, global head of Kinexys Labs, described the move as further convergence between Wall Street and crypto, with banks moving onto public chains and crypto firms partnering with traditional institutions. JPMorgan already has tokenized money market funds MONY and JLTXX on Ethereum, and it now adds a cash leg. Ether traded near $2,434 after a rebound, with trading volume up 42% over 24 hours.
- Ethereum Dramatically Outperformed the S&P 500 in Q3. Is It Finally Time to Load Up on Ethereum?
Ethereum rose 66% in the third quarter, its best quarter since 2021, while the S&P 500 gained 2% amid global uncertainty. Still, ETH is down 37% over five years, while an S&P 500 index fund with dividends reinvested would have returned 85%, so it would need to gain a lot to catch up. The article argues one strong quarter doesn't justify overbuying, though owning some makes sense since Ethereum hosts $147.9 billion in stablecoins and $17 billion in tokenized real-world assets. The chain collected $354,748 in fees over the 24 hours ending Oct. 14, and its Glamsterdam upgrade, live on a test network since Oct. 6, is slated for mainnet in the fourth quarter.
- JPMorgan brings JPM Coin to Ethereum
JPMorgan is extending its JPM Coin beyond Coinbase's Base network to the Ethereum blockchain, citing Ethereum's deeper liquidity and institutional user base. The largest U.S. bank already moves more than $7 billion a day on its private Kinexys network.
- Deutsche Bank targets Asia crypto custody expansion in 2027 as German launch nears
Deutsche Bank plans to extend its crypto custody service to Asia in 2027, with a German launch expected within weeks but still subject to regulatory approval. The initial offering will support bitcoin, ether and stablecoins USDC, EURC and EURAU, with the bank managing clients' wallets and private keys so corporate and institutional clients can hold and transfer crypto. The bank also plans stablecoin conversion, tokenized deposits and digital bond issuance services, as part of a target of roughly 8% compound annual revenue growth in its corporate bank from 2025 to 2028. It received BaFin authorization under MiCA on October 12 and has worked with Bitpanda and Taurus, joining rivals such as Standard Chartered and BBVA in offering crypto custody.
- Banks Hold a Lever Over Stablecoin Adoption, BIS Economists Say
A new BIS working paper using US data from 2019 to 2025 finds that when banks raise deposit rates, stablecoin market growth slows. Over a typical 10-week span, stablecoin market capitalisation grew about 15%, but a one-basis-point rise in deposit rates cut that to roughly 12% under the baseline estimate and about 6% under a method designed to isolate cause and effect. The authors exploited the fact that banks rarely raise savings rates until the federal funds rate passes about 3%, and the link was stronger for Circle's USDC than for Tether's USDT. They say regulators should weigh whether stablecoin issuers can pay holders yield, and note the paper reflects the authors' views, not necessarily the BIS's.
Related markets
Latest news
- Zinc and lead prices surge, and one stock hits its ceiling price after 14 sessions with almost no trading
TMG shares of Kim loại màu Thái Nguyên (Vimico) rose 15% to VND 74,700 per share on 19/10, their highest level in over 7 months, although only 1,400 shares changed hands after 14 sessions with almost no trading. In Q3/2026, net revenue reached VND 443 billion (up 69%) and after-tax profit reached VND 67 billion, four times the year-earlier level, driven by higher prices for zinc ingots, lead concentrate and sulfuric acid. For the first nine months, after-tax profit reached VND 149 billion (up 187%), while total financial debt fell from VND 83 billion to VND 44 billion. TMG will pay a 2026 interim cash dividend at 30% (VND 3,000 per share), with a last registration date of 22/10/2026 and total payments of about VND 54 billion expected on 30/10/2026. Vimico holds 51% of charter capital and is expected to receive about VND 27.54 billion.
- More than US$1 billion set to flow into stocks: has the time to deploy arrived?
BSC (BIDV Securities) maintains that valuations across many sectors have become more attractive, making now a reasonable time to allocate to stocks for the medium to long term. Market-wide profits rose 50% year on year in Q2 2026, and BSC raised its 2026 profit growth forecast to 26% and expects 12% growth in 2027. The VN-Index's trailing 12-month P/E, excluding the Vingroup group, is 10.5x, while the 2027 forward P/E is about 9.5x, a discount of nearly 30% to the average. Liquidity remains the main bottleneck, though banking-system liquidity pressure has begun to ease and the probability of rate cuts in 2027 has risen. Foreign outflows are expected to ease, with about VND 33,000 billion (US$1.27 billion) of inflows from the market upgrade expected mainly in 2027.
- One securities firm's Q3 profit unexpectedly 'evaporates' by 98% year on year
CTCP Chứng khoán DSC (DSC) reported Q3/2026 operating revenue of nearly VND 161 billion, down 38%, leaving pre-tax profit at just VND 4.2 billion, down 98%. The main cause was proprietary trading: gains from selling FVTPL financial assets dropped over 99% to about VND 604 million, while revaluation losses reached VND 55 billion. Operating expenses rose 93% to VND 75 billion, and financial expenses climbed 67% to VND 69 billion, all of which was interest expense, while brokerage revenue fell 64% to VND 15 billion. For the first nine months, pre-tax profit reached VND 97 billion, down nearly 67%.
- Securities companies' update as of morning 20/10: Q3 financial reports pour in, and several major names unexpectedly report profit declines
As of the morning of 20/10, 31 securities companies had released their Q3/2026 financial statements with mixed results, and some saw profits drop 80-98% year on year. VIX reported Q3 pre-tax profit of about VND 192 billion, down 94%, as gains from selling FVTPL assets fell sharply, revaluation losses reached nearly VND 1,363 billion, and operating expenses rose to over VND 1,744 billion. BVSC's pre-tax profit was about VND 20 billion, down 80%, while ABS rose 552% to VND 376 billion, driven by FVTPL gains of nearly VND 412 billion. KIS edged up 2% to VND 248 billion on lower costs, while BMS and AIS swung to losses of over VND 63 billion and about VND 3 billion, respectively.
- Securities firm names 2 companies directly benefiting from proposed fertilizer export tax cut
MBS views the Ministry of Finance's proposal to cut export tariffs on urea, superphosphate and sulphate of potash (SOP) from 5% to 0% as a positive factor for the fertilizer sector, though the effective date has not yet been set. Đạm Cà Mau (DCM) is seen as the biggest beneficiary, with estimated savings of about VND 203 billion per year (9.2% of 2025 pre-tax profit), as urea accounted for about 59.7% of its sales volume in the first eight months of 2026. Đạm Phú Mỹ (DPM) is estimated to save about VND 93 billion per year (6.9%), a smaller benefit than DCM. LAS's benefit is limited, DDV does not benefit directly, and BFC could face cost pressure if domestic urea prices rise.
- Why Palantir Technologies Stock Rallied Today
Palantir Technologies (PLTR) shares rose sharply on Monday morning, reaching as much as 5.9% and still up 5.5% as of 12:19 p.m. ET. The catalyst was a new partnership with Knox Systems, a managed federal and Department of Defense cloud provider, which aims to help customers gain FedRAMP acceptance faster and deploy Palantir's data and AI platform in secure government environments. The article notes that concerns about AI adoption had weighed on the stock, which trades at 83 times next year's expected earnings. However, given Palantir's triple-digit profit growth, its PEG ratio is 0.5.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.