Digital Asset, J.P. Morgan to Launch JPM Coin on Canton Network
Digital Asset and Kinexys by JP Morgan plan to bring JPM Coin natively to the Canton Network, the companies announced Tuesday.
The collaboration will enable JP Morgan's USD-denominated deposit token (ticker: JPMD) to operate on Canton, a privacy-enabled blockchain network designed for institutional financial markets. JPM Coin allows institutional clients to make payments using a digital representation of JP Morgan USD deposits on public distributed ledger technology.
The integration aims to provide institutions using Canton with the ability to issue, transfer, and redeem JPMD near-instantly within the network's synchronized ecosystem.
"By bringing JPM Coin natively to Canton, we're establishing the foundation for modernizing the existing financial rails to facilitate the more efficient flow of capital," Yuval Rooz, co-founder and CEO of Digital Asset said in a statement.
Naveen Mallela, global co-head of Kinexys by J.P. Morgan, said the collaboration "moves the industry forward in transacting on public blockchains" by combining bank-issued deposits with 24/7, near real-time blockchain transactions.
The integration will proceed in phases throughout 2026, beginning with technical and business frameworks to support the token's issuance and redemption on Canton. The companies also plan to explore bringing additional Kinexys Digital Payments products to the network, including JP Morgan's Blockchain Deposit Accounts.
JPM Coin is described as the first bank-issued USD deposit token and addresses demand from both digitally native and traditional firms for faster money movement on public blockchain infrastructure.
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