Digital Asset, the creator of the Canton Network, and Kinexys by JPMorgan plan to bring USD JPM Coin (JPMD) natively to the Canton Network, extending the bankโs deposit token from its existing infrastructure onto a public, institutional-grade blockchain.ย
The bank has already begun deploying JPM Coin on Coinbaseโs Base network for institutional clients as part of a pilot, and has indicated it plans to support additional public blockchains over time, making Canton another leg in a multi-chain strategy.
According to an announcement shared with Cointelegraph, JPM Coin by Kinexys Digital Payments is โthe first bankโissued, USDโdenominated deposit tokenโ designed for institutional clients and represents a digital claim on JPMorgan US dollar deposits on distributed ledger infrastructure.ย
The move targets growing demand from both digitally native and traditional companies for faster, more secure money movement on public blockchain rails.
โThis collaboration brings to life the vision of regulated digital cash that can move at the speed of markets,โ said Yuval Rooz, co-founder and CEO of Digital Asset.
Naveen Mallela, global co-head of Kinexys by JPMorgan, said that the partnership moved the industry forward in transacting on public blockchains, and that JPM Coin delivered the โsecurity of bank-issued deposits and settlement,โ along with the โspeed and innovation of 24/7, near real-time blockchain transactions.โ
Canton Networkโs institutional ambitions
The Canton Network is a public, permissionless layerโone blockchain purposeโbuilt for institutional finance, combining privacy features with compliance and scalability, and governed by the Canton Foundation with participation from major financial institutions.ย
It aims to provide synchronized settlement across multiple asset classes on a shared, interoperable infrastructure, with its own native token, Canton Coin, supporting decentralized governance and application development.ย
Canton Coin has rallied in recent weeks after tokenized US Treasury pilots on the network drew fresh 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
Bringing JPM Coin natively to Canton is framed as a way to create โregulated, interoperable digital moneyโ that can move seamlessly across that ecosystem, rather than remaining confined to a single bankโs internal ledger.
Under the collaboration, Digital Asset and Kinexys will take a phased approach to integration through 2026, initially focusing on the technical and business frameworks to issue, transfer and redeem JPMD nearโinstantly on Canton.ย
The partners also plan to explore integrating other Kinexys Digital Payments products, including JPMorganโs blockchain deposit accounts, which could extend onchain cash management options for participants already experimenting with tokenized securities and other institutional DeFiโstyle workflows.ย
Cointelegraph requested further comment on the planned use cases, regulatory perimeter and expected transaction volumes for JPM Coin on Canton but had not received a response by publication time.
Related: Stablecoins become core market plumbing in Moodyโs 2026 outlook
