JPMorgan Expands JPM Coin to Canton Network in New Institutional Blockchain Push
JPMorgan’s blockchain division, Kinexys, has partnered with Digital Asset to launch the JPM Coin deposit token directly on the Canton Network, according to an announcement made on Jan. 7. The move marks JPMorgan’s second expansion onto a public blockchain, following the launch of JPM Coin on Coinbase’s Base network in November 2025.
The rollout will take place in phases throughout 2026. Initial efforts will focus on establishing the technical and business infrastructure required to support issuance, transfer, and near-instant redemption of JPM Coin natively on the Canton Network. The collaboration will also explore integrating additional Kinexys offerings, including Blockchain Deposit Accounts.
Canton Network Targets Institutional Finance
The Canton Network, launched in July 2024, is positioned as a public blockchain designed specifically for institutional use cases. Developed by Digital Asset, the network emphasizes configurable privacy, allowing financial institutions to transact on a shared ledger without disclosing sensitive commercial data.
Canton’s ecosystem already includes major financial institutions such as Goldman Sachs, DTCC, Deutsche Börse, BNP Paribas, and BNY Mellon. Digital Asset CEO Yuval Rooz said the partnership with JPMorgan is intended to help modernize legacy financial infrastructure and improve capital efficiency across institutions.
Founded in 2014, Digital Asset raised $135 million in June 2025 and secured additional strategic investments from BNY, Nasdaq, and S&P Global in December 2025, reinforcing institutional confidence in the network.
Kinexys’ Growing Transaction Footprint
Kinexys currently processes between $2 billion and $3 billion in daily transaction volume, with cumulative volumes exceeding $1.5 trillion since 2019, according to JPMorgan disclosures. The platform has been adopted by corporate clients such as BMW, which uses Kinexys to automate treasury and internal fund transfers.
JPM Coin and a Multi-Chain Strategy
JPM Coin enables institutional clients to conduct payments using a digital representation of JPMorgan deposits recorded on a blockchain. Unlike stablecoins, which are backed by reserve assets, JPM Coin represents a direct claim on bank deposits, positioning it closer to traditional money on a distributed ledger.
Before the Canton deployment, JPMorgan made JPM Coin available to institutional clients on Coinbase’s Base network on Nov. 12, 2025. Early participants included B2C2, Coinbase, and Mastercard.
In parallel, JPMorgan has been advancing a multi-chain strategy. On Nov. 11, 2025, the bank announced a framework with Singapore’s DBS Bank aimed at developing interoperability standards for tokenized deposit transfers across different blockchains.
Improving Liquidity and Efficiency for Institutions
Naveen Mallela, Global Co-Head of Kinexys, said the Canton Network deployment is expected to help institutional clients operate more efficiently while accessing deeper liquidity across blockchain-based financial rails.
As major banks continue to move deposit tokens onto regulated public blockchains, JPMorgan’s expansion highlights how tokenized deposits are emerging as a key building block in the next generation of institutional finance infrastructure.
