Digital Asset, the creator of the Canton Network, alongside Kinexys by JPMorgan, aims to introduce USD JPM Coin (JPMD) directly to the Canton Network, transitioning the bank’s deposit token from its current infrastructure onto a public, institutional-grade blockchain.
The bank has commenced deploying JPM Coin on Coinbase’s Base network for institutional clients as part of a pilot program, and it has indicated plans to support more public blockchains over time, positioning Canton as part of its multi-chain strategy.
As per an announcement shared with Cointelegraph, JPM Coin by Kinexys Digital Payments is “the first bank‑issued, USD‑denominated deposit token” tailored for institutional clients, representing a digital claim on JPMorgan US dollar deposits on distributed ledger technology.
This initiative addresses the rising demand from both digitally native and traditional businesses for faster, more secure monetary transactions on public blockchain platforms.
“This collaboration embodies the vision of regulated digital cash that can move at the pace of markets,” stated Yuval Rooz, co-founder and CEO of Digital Asset.
Naveen Mallela, global co-head of Kinexys by JPMorgan, remarked that the partnership propels the industry forward in transacting on public blockchains and that JPM Coin offers the “security of bank-issued deposits and settlement,” along with the “speed and innovation of 24/7, near real-time blockchain transactions.”
Canton Network’s institutional ambitions
The Canton Network is a public, permissionless layer‑one blockchain specifically designed for institutional finance, integrating privacy features with compliance and scalability, and governed by the Canton Foundation with participation from major financial institutions.
Its goal is to enable synchronized settlement across various asset classes on a shared, interoperable infrastructure, with its own native token, Canton Coin, facilitating decentralized governance and application development.
Canton Coin has surged in recent weeks following tokenized US Treasury pilots on the network, attracting new speculative interest in its role as a settlement asset for institutional decentralized finance (DeFi).
Related: Canton token rallies 27% after DTCC outlines tokenized Treasury plans
Introducing JPM Coin to Canton is presented as a means to establish “regulated, interoperable digital money” that can transition smoothly across that ecosystem, rather than being restricted to a single bank’s internal ledger.
Through this collaboration, Digital Asset and Kinexys will adopt a phased approach to integration through 2026, initially concentrating on the technical and business frameworks necessary to issue, transfer, and redeem JPMD nearly instantly on Canton.
The partners also plan to investigate the integration of other Kinexys Digital Payments offerings, including JPMorgan’s blockchain deposit accounts, which could enhance on-chain cash management options for participants already testing tokenized securities and other institutional DeFi-styled processes.
Cointelegraph sought further information regarding the planned use cases, regulatory scope, and anticipated transaction volumes for JPM Coin on Canton but had not received a response by the time of publication.
Related: Stablecoins as core market infrastructure in Moody’s 2026 outlook
