Digital Asset and Kinexys by J.P. Morgan revealed plans to issue the bank’s JPM Coin (JPMD) on the Canton network. The alliance aims to issue JPM Coin, a USD-denominated deposit token backed by J.P. Morgan deposits, for institutional monetary transfers and redemption.
Kinexys, a bank-led blockchain platform for tokenizing financial assets, partnered with Digital Asset, a crypto-focused company tailored towards institutional finance. The duo intends to issue J.P. Morgan’s deposit token product, JPM Coin, on the Canton network, a privacy-oriented Layer 1 blockchain.
J.P. Morgan’s JPM Coin (JPMD) to debut on the Canton network
According to a press release, the rollout aims to provide institutions with a solution for processing payments and settlements using JPM Coin as a digital representation of J.P. Morgan’s monetary deposits. The announcement detailed that the invention aims to address a widening gap caused by the growing demand for faster, easier, and more secure fund transfer solutions on public blockchain infrastructure at the institutional level. The partnership aims to leverage Canton’s layer-one blockchain to offer Canton users regulated virtual currency that they can connect with different financial markets.
Yuval Rooz, Co-Founder and CEO of Digital Asset, said that the alliance “brings to life the vision of regulated digital cash” that can match the speed of markets. He added that bringing JPM Coin natively to Canton will establish the foundation for modernizing the existing financial frameworks to streamline the movement of capital. Rooz emphasized that the project aims to bridge traditional finance and blockchain infrastructure in a way that promotes trust, regulatory compliance, and privacy (through leveraging Canton’s blockchain).
Naveen Mallela, Global Co-Head of Kinexys by J.P. Morgan, stated that the collaboration represents a significant step forward, advancing the industry’s ability to transact on public blockchains. Mallela added that JPM Coin will offer bank-level security and settlement alongside the speed and innovation of blockchain technology.
The project is set to follow a systematic, phased approach during its integration and deployment throughout 2026, with the initial phase focusing on the development of the necessary frameworks to support the JPMD crypto asset. The announcement also suggested that the two partners may explore integrations within other Kinexys Digital Payments products, such as J.P. Morgan’s Blockchain Deposit Accounts, to expand the offerings and capabilities available to Canton users.
Data from CoinMarketCap shows that Canton’s native crypto asset, CC, is down 8% over the past week and approximately 5% in the last 24 hours. The crypto asset is currently trading at $0.1337 and has a market cap of $4.95 billion.
DTCC partners with Canton Network to tokenize U.S. treasury securities
The news follows the Depository Trust & Clearing Corporation (DTCC) ‘s adoption of the Canton Network to tokenize U.S. Treasury securities. According to official reports, the partnership between DTCC and Canton Network will allow a portion of the U.S. treasury securities under the corporation’s custody to be minted on-chain.
The collaboration followed recent news that DTCC had received a no-action letter from the United States financial watchdog, the Securities and Exchange Commission (SEC). The letter gave the trust the green light to implement and operate a new service to tokenize real-world, DTC-custodied assets.
The Canton network emerged as a platform to enable institutions to issue and trade tokenized real-world assets, such as loans, bonds, and funds. The crypto project sparked a boom in the privacy coin sector in mid-December of last year, leading to a surge in the privacy coin market.
Cryptopolitan reported that the boom was a result of the partnership between DTCC and Canton Network. An official press release from the U.S. financial market infrastructure revealed that the partners will be working on an MVP in a controlled production environment in 2026.
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Source: https://www.cryptopolitan.com/j-p-morgan-jpm-coin-on-canton-network/
