JPMorgan Moves $7B a Day Onto Ethereum: Are Stablecoins Toast?
Wall Street Just Picked Ethereum: Inside JPMorgan's JPM Coin Move and the $7B-a-Day Bet Behind It Co-produced by Daniel Aharonoff and DigitalDan As the chief editor of ethdan.me, I've watched banks flirt with blockchain for more than a decade. Usually it meant private test networks, pilot programs, and press releases that went nowhere. What happened on October 19, 2026 was different: the largest bank in the United States put real bank dollars on the Ethereum mainnet — a public blockchain, not a walled garden. JPMorgan's JPM Coin, a token representing US dollar deposits at the bank, is now live on Ethereum for institutional clients. Let that sink in. The bank that was once the industry's biggest crypto skeptic is now running its deposit token on the same chain your MetaMask wallet uses. And it's doing it because Ethereum's liquidity — roughly $50 billion locked in applications, per DefiLlama figures cited by Decrypt — made it the obvious place to be. As Emm...
