Digital Asset, the firm behind the Canton Network, and Kinexys by JPMorgan are preparing to deploy USD JPM Coin (JPMD) natively on Canton, extending the bank’s deposit token beyond its internal systems onto a public, institutional-grade blockchain. The initiative follows earlier steps by JPMorgan to roll out JPM Coin on Coinbase’s Base network for institutional clients, with the bank signaling plans to support additional public chains as part of a broader multi-chain approach.

Kinexys Digital Payments described JPM Coin as “the first bank-issued, USD-denominated deposit token” built for institutional use, representing a digital claim on JPMorgan dollar deposits recorded on distributed ledger infrastructure. The expansion is aimed at companies seeking faster and more secure settlement using public blockchain rails.

“This collaboration brings to life the vision of regulated digital cash that can move at the speed of markets,” said Yuval Rooz, co-founder and CEO of Digital Asset. Naveen Mallela, global co-head of Kinexys by JPMorgan, added that the partnership advances institutional activity on public blockchains by combining the “security of bank-issued deposits and settlement” with the “speed and innovation of 24/7, near real-time blockchain transactions.”

Canton’s role in institutional finance

The Canton Network is designed as a public, permissionless layer-one blockchain tailored for institutional finance, blending privacy controls with compliance and scalability. Governed by the Canton Foundation and supported by major financial institutions, the network targets synchronized settlement across multiple asset classes on shared infrastructure, with Canton Coin underpinning governance and application development.

Interest in Canton has increased recently after pilots involving tokenized US Treasurys drew attention to its potential as a settlement layer for institutional decentralized finance. Bringing JPM Coin directly onto the network is positioned as a step toward “regulated, interoperable digital money” that can circulate across an open ecosystem rather than remaining siloed within a single bank’s ledger.

Phased integration through 2026

Under the agreement, Digital Asset and Kinexys plan a phased rollout through 2026, starting with the technical and commercial foundations needed to issue, transfer, and redeem JPMD on Canton with near-instant settlement.

The partners also intend to explore adding other Kinexys Digital Payments offerings, including JPMorgan’s blockchain deposit accounts, which could broaden onchain cash-management capabilities for participants already experimenting with tokenized securities and related institutional workflows.

Sources:

https://cointelegraph.com/news/jpm-coin-heads-to-canton-network

https://coinmarketcap.com/currencies/canton-network/