JPMorgan Is Launching JPM Coin on the Rising Canton Network
Financial giant JPMorgan will expand its JPM Coin from Base to Canton Network, just days after Canton’s coin set a new peak price.
In brief
- JPMorgan's Kinexys is expanding JPM Coin to Canton Network, following its launch on Ethereum layer-2 network Base.
- The move enables near-instant token issuance, transfer, and redemption for institutional clients.
- Canton Network is attracting major financial institutions, including Franklin Templeton and DTCC, while its native CC token has surged 82% in the past month.
JPMorgan’s Kinexys blockchain unit announced plans Wednesday to launch its JPM Coin on Canton Network, the rising privacy-enabled network designed for financial markets. The firm is working with Digital Asset, the company behind Canton, to expand the token’s reach.
Initially launched on Base, the Coinbase-incubated Ethereum layer-2 scaling network, JPM Coin (ticker: JPMD) is a bank-issued, USD-denominated deposit token that lets institutional clients make payments using a digital representation of JPMorgan deposits on public blockchain infrastructure.
"This collaboration moves the industry forward in transacting on public blockchains,” said Kinexys Global Co-Head Naveen Mallela, in a statement. ”In bringing JPM Coin to Canton, we can further increase efficiency and unlock liquidity."
The collaboration will proceed in phases throughout 2026, initially focusing on establishing technical and business frameworks for JPM Coin's issuance, transfer, and redemption on Canton. Once natively available on Canton, institutions will be able to issue, transfer, and redeem JPMD near-instantly.
Future phases may explore integrating additional Kinexys Digital Payments products, including JPMorgan's Blockchain Deposit Accounts, to expand capabilities for Canton ecosystem users.
"This collaboration brings to life the vision of regulated digital cash that can move at the speed of markets," said Digital Asset co-founder and CEO Yuval Rooz, in a statement. "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."
Canton Network has earned support from other financial giants in recent months.
Franklin Templeton announced plans in November to bring its Benji tokenized fund platform to Canton, while in December, the Depository Trust & Clearing Corporation—which processes $3.7 quadrillion worth of transactions annually—said it planned to issue tokenized securities on the network.
Canton Network’s native token CC began trading in November and rose to a new all-time high price at the start of this year, peaking at $0.176 on January 1. It recently traded for $0.135, according to CoinGecko, still up 82% over the last month.
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