Kinexys by JPMorgan, the firm's industry-leading blockchain business, is launching its deposit token product JPM Coin natively to the Canton Network, a privacy-enabled blockchain network designed for synchronised financial markets.

JPM Coin is the first USD-denominated deposit token issued by a bank, offering institutional clients the ability to make payments using a digital representation of JP Morgan's USD deposits on a public distributed ledger.

The issuance of the digital product on the network aims to strengthen the foundations for a regulated and interoperable digital currency that can circulate seamlessly across financial markets in the region.

The bank said that thanks to the native availability of JPM Coin, institutions using Canton will be able to issue, transfer and redeem JPMD almost instantly within a secure and synchronised ecosystem.

The move aims to meet growing demand from both digital and traditional businesses seeking faster, easier and more secure money transfers on a public blockchain infrastructure, Kinexys explained.The initiative stems from a collaboration with Digital Asset, a company specialising in blockchain technology and the main developer of the Canton Network.

Digital Asset and Kinexys by JP Morgan said they will take a phased approach to integration throughout 2026.

The initial focus will be on creating the technical and commercial frameworks necessary to support the issuance, transfer and near-instant redemption of JPM Coin directly on Canton.

The collaboration will also explore further integrations of other Kinexys Digital Payments products, including JPMorgan's blockchain deposit accounts, to expand the offerings and capabilities available to Canton ecosystem participants.

Naveen Mallela, global co-head of Kinexys by JPMorgan, said the collaboration moves the industry forward in transacting on public blockchains.

“JPM Coin delivers the security of bank-issued deposits and settlement, combined with the speed and innovation of 24/7, near real-time blockchain transactions,” Mallela added. “In bringing JPM Coin on to Canton, we can further increase efficiency and unlock liquidity,”

Yuval Rooz, co-founder and chief executive of Digital Asset said that the collaboration brings to life the vision of regulated digital cash that can move at the speed of markets.

---