JPMorgan Deepens Multi-Chain Strategy With Canton Deployment

The move signals a shift toward making regulated digital cash usable on public, institutional-grade blockchain infrastructure.

JPMorgan has already begun testing JPM Coin on Base, Coinbase’s public blockchain, for institutional clients. Canton now becomes another pillar in a broader multi-chain strategy, reinforcing the bank’s intention to support multiple public networks rather than confining tokenized deposits to proprietary rails.

According to the announcement, JPM Coin is structured as a bank-issued deposit token, representing a direct digital claim on U.S. dollar deposits held at JPMorgan. Designed specifically for institutional users, the token aims to combine the settlement assurances of traditional banking with the continuous availability of blockchain-based transactions.

Public blockchains, regulated money

The collaboration responds to rising demand from both traditional enterprises and digitally native firms for faster, programmable, and always-on payment rails. Yuval Rooz, co-founder and chief executive of Digital Asset, said the integration brings regulated digital cash closer to real-time market activity while maintaining compliance and institutional safeguards.

From JPMorgan’s perspective, Naveen Mallela, global co-head of Kinexys, highlighted that deploying JPM Coin on public infrastructure blends the security of bank-issued deposits with the speed of near-real-time blockchain settlement. The aim is to move institutional payments beyond legacy cut-off times and batch-based processes.

The Canton Network itself is built for institutional finance. Governed by the Canton Foundation, the layer-one blockchain combines public access with configurable privacy and compliance features, enabling synchronized settlement across multiple asset classes on shared infrastructure.

Recent pilots involving tokenized U.S. Treasurys have drawn attention to Canton’s institutional ambitions and helped drive renewed interest in Canton Coin, the network’s native governance and utility token that supports decentralized coordination and application development.

By bringing JPM Coin directly onto Canton, the partners are seeking to create interoperable digital money capable of moving freely across an institutional blockchain ecosystem rather than remaining siloed within a single bank ledger. The phased rollout through 2026 will also explore extending additional Kinexys Digital Payments products, including blockchain-based deposit accounts, to support onchain cash management alongside tokenized assets.

Taken together, the initiative underscores a broader shift in how major banks are engaging with public blockchains — not as experimental tools, but as infrastructure suitable for regulated, large-scale financial activity.

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