J.P. Morgan Expands Digital Deposit Coin to Canton Network
Canton will become the second blockchain to host native JPM Coin.
J.P. Morgan's Kinexys digital asset arm has selected Canton as the second permissionless blockchain to host native JPM Coin (ticker symbol: JPMD), a tokenized USD deposit token for the bank's institutional clients.
What's the Scoop?
- New Network: Kinexys – J.P. Morgan's digital asset arm – will deploy JPM Coin (JPMD) on Canton, marking the digital dollar's second expansion onto a permissionless network, following its launch on
Base in November 2025. - Bank Deposit: JPM Coin represents U.S. dollar deposits held at J.P. Morgan, offering institutional clients the ability to send and receive dollars 24/7 with blockchain-based rails.
- Institutional Adjacent: Built by Digital Asset Holdings, Canton network touts the support of major financial institutions, including Goldman Sachs, BNP Paribas, and BNY Mellon. The network was the first identified as suitable for the DTCC's upcoming tokenization experiment.
- Phased Rollout: Kinexys plans a gradual JPMD deployment throughout 2026, with potential future integrations including "Blockchain Deposit Accounts" and broader interoperability frameworks.
JPM Coin is coming to Canton! 🏦@jpmorgan's Kinexys division is extending its USD deposit token (JPMD) onto the @CantonNetwork, bringing bank backed, 24/7 settlement into Canton’s institutional RWA and collateral ecosystem.
— Canton Foundation (@CantonFdn) January 7, 2026
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Jack Inabinet
Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.
