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JPMorgan’s blockchain division Kinexys and Digital Asset announced plans on Jan. 7 to launch the JPM Coin deposit token directly on the Canton Network.

This marks the bank’s second public blockchain expansion after its Base network launch in November 2025.

The deployment will proceed in phases throughout 2026. Initial work focuses on technical and business frameworks to support issuance, transfer, and near-instant redemption of JPM Coin directly on Canton, according to the joint announcement.

The collaboration will also explore integrating additional Kinexys products including Blockchain Deposit Accounts.

Platform Background

Canton Network launched in July 2024 as what Digital Asset describes as the only public blockchain purpose-built for institutional finance.

The network’s privacy features allow institutions to conduct transactions without exposing sensitive business data to competitors. Participants include Goldman Sachs, DTCC, Deutsche Börse, BNP Paribas, and BNY Mellon.

Digital Asset CEO Yuval Rooz described the partnership as laying groundwork to modernize traditional financial infrastructure and improve how capital moves between institutions.

The company, founded in 2014, raised $135 million in June 2025 and secured additional strategic investment from BNY, Nasdaq, and S&P Global in December 2025.

Kinexys processes $2-3 billion in daily transaction volume with cumulative volume exceeding $1.5 trillion since 2019, according to JPMorgan’s official disclosures.

Corporate clients including BMW have adopted Kinexys for automated treasury transfers.

Multi-Chain Strategy

JPM Coin became available to institutional clients on Coinbase’s Base network on Nov. 12, 2025, with initial clients including B2C2, Coinbase, and Mastercard.

The deposit token provides institutional clients with the ability to make payments using a digital representation of JPMorgan deposits on a public ledger.

This differs from stablecoins, which are backed by reserves rather than direct bank claims.

JPMorgan announced a separate framework with Singapore’s DBS Bank on Nov. 11, 2025 to develop compatibility standards for tokenized deposit transfers across multiple blockchains.

Naveen Mallela, Kinexys Global Co-Head, said the Canton deployment should help institutional clients operate more efficiently and access greater liquidity.

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