JPMorgan to issue its JPM stablecoin directly on privacy-focused Canton Network

J.P. Morgan’s blockchain business unit, Kinexys, and Digital Asset announced plans to bring the bank‑issued USD deposit token JPM Coin (JPMD) natively to the Canton Network, a privacy‑enabled public blockchain for synchronized financial markets.

The move signals a growing institutional shift toward real‑time, interoperable digital money that can settle alongside tokenized assets and smart contracts, the companies said on Wednesday. Major market infrastructure provider the Depository Trust & Clearing Corporation recently selected the Canton Network for tokenization of traditional finance instruments, illustrating real institutional support for blockchain‑based settlement.

Institutions participating in 24/7 U.S. Treasury financing on Canton have also used tokenized assets to settle transactions outside traditional market hours, underscoring the network’s potential for continuous, synchronous markets.

JPM Coin represents U.S. dollar deposits held at J.P. Morgan and lets institutional clients make payments using a digital token on distributed ledgers. By issuing JPMD directly on Canton, the two firms aim to expand regulated, interoperable digital money that institutions can issue, transfer, and redeem within a secure, synchronized ecosystem, according to the release.

Yuval Rooz, co-founder and CEO of Digital Asset, said in a statement that the collaboration delivers “regulated digital cash that can move at the speed of markets,” positioning the initiative as a bridge between traditional finance infrastructure and digital ledger technology while maintaining privacy and compliance. Naveen Mallela, global co‑head of Kinexys by J.P. Morgan, said JPM Coin on Canton can increase efficiency and unlock liquidity through near‑real‑time blockchain transactions.

The integration will unfold in phases throughout 2026. The initial focus is establishing the technical and business frameworks to support JPM Coin issuance, transfer, and near‑instant redemption directly on the Canton Network. The collaboration will also explore connecting additional Kinexys Digital Payments products, such as J.P. Morgan’s Blockchain Deposit Accounts, to the ecosystem.

The Canton Network is governed by the Canton Foundation with participation from global financial institutions and supports real‑time, compliant settlement across multiple asset classes on a shared infrastructure.

JPMorgan did not immediately respond to a CoinDesk request for comment.