JPMorgan to Launch JPM Coin Natively on the Canton Network
JPMorgan’s Kinexys unit plans to expand JPM Coin beyond its current infrastructure by launching a native U.S. dollar deposit token on the Canton Network, marking the next phase of the bank’s multi-chain strategy.
Digital Asset, the developer of the Canton Network, and Kinexys by JPMorgan intend to bring USD JPM Coin (JPMD) natively to the network, extending the bank’s deposit token onto a public, institutional-grade blockchain. JPMorgan has already begun a pilot to deploy JPM Coin on Coinbase’s Base network for institutional clients and has indicated it expects to support additional public blockchains over time, with Canton as a further step.
According to an announcement, JPM Coin by Kinexys Digital Payments is the first bank‑issued, USD‑denominated deposit token designed for institutional users, representing a digital claim on JPMorgan U.S. dollar deposits recorded on distributed ledger infrastructure. The initiative addresses growing demand from both digitally native and traditional enterprises for faster and more secure payments over public blockchain rails.
“This collaboration brings to life the vision of regulated digital cash that can move at the speed of markets,” said Yuval Rooz, co-founder and CEO of Digital Asset.
Naveen Mallela, global co-head of Kinexys by JPMorgan, said the partnership advances institutional transactions on public blockchains, adding that JPM Coin combines the security of bank-issued deposits and settlement with the speed and innovation of 24/7, near real-time blockchain transactions.
Canton Network’s institutional focus
The Canton Network is a public, permissionless layer‑one blockchain built for institutional finance, combining privacy features with compliance and scalability. It is governed by the Canton Foundation with participation from major financial institutions.
The network is designed to enable synchronized settlement across multiple asset classes on shared, interoperable infrastructure. Its native token, Canton Coin, supports decentralized governance and application development.
Canton Coin has rallied in recent weeks after tokenized U.S. Treasury pilots on the network spurred renewed speculative interest in its potential role as a settlement asset for institutional DeFi. Canton Coin has rallied in recent weeks. Source: CoinMarketCap
Launching JPM Coin natively on Canton is positioned as a way to enable regulated, interoperable digital money that can move seamlessly across the ecosystem, rather than remaining limited to a single bank’s internal ledger.
Digital Asset and Kinexys plan a phased integration through 2026, initially concentrating on the technical and business frameworks to issue, transfer, and redeem JPMD with near-instant settlement on Canton.
The partners also intend to explore integrating additional Kinexys Digital Payments products, including JPMorgan’s blockchain deposit accounts, potentially expanding on-chain cash management options for participants piloting tokenized securities and other institutional DeFi workflows.
Further details on planned use cases, regulatory scope, and expected transaction volumes were not available at publication time.
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