The collaboration will initially focus on enabling the native issuance of Kinexys by J.P. Morgan’s deposit token product JPM Coin on Canton, which is a privacy-enabled blockchain network designed for synchronized financial markets, the companies said in a Wednesday (Jan. 7) press release.
The companies will later explore the integration of J.P. Morgan’s Blockchain Deposit Accounts and other Kinexys Digital Payments products, making them available to Canton ecosystem participants, according to the release.
JPM Coin is a bank-issued, U.S. dollar-denominated deposit token that enables institutional clients to make payments using a digital representation of J.P. Morgan U.S. dollar deposits on a public distributed ledger, per the release.
Bringing JPM Coin natively to Canton will enable institutions using that blockchain network to issue and transfer JPM Coin near-instantly, the release said.
“This collaboration brings to life the vision of a regulated digital cash that can move at the speed of markets,” Digital Asset Co-founder and CEO Yuval Rooz said in the release. “By bringing JPM Coin natively to Canton, we’re establishing the foundation for modernizing the existing financial rails to facilitate the more efficient flow of capital, bridging traditional finance and digital infrastructure in a way that preserves privacy, compliance and trust.”
Naveen Mallela, global co-head of Kinexys by J.P. Morgan, said in the release: “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. In bringing JPM Coin on to Canton, we can further increase efficiency and unlock liquidity.”
JPMorgan Chase CEO Jamie Dimon said in July 2025 that the bank is committed to making inroads into digital holdings, such as JPM Coin and stablecoins in general.
Asked about stablecoins during an earnings call, Dimon said the “deposit token is effectively the same thing. You’re moving money by token, you can pay interest. It’s JPMorgan deposit and stablecoins. We’re going to be involved in both JPMorgan deposit coin and stablecoins to understand it, to be good at it.”
Meanwhile, Digital Asset said in July 2025 that it raised $135 million to promote adoption of its Canton Network blockchain, expand the integration of real-world assets (RWAs) onto Canton, and strengthen the relationship with the companies that are already part of the network.
