JPMorgan Chase said it plans to issue JPM Coin directly on the Canton Network, allowing the bank’s digital representation of U.S. dollar deposits to be issued, transferred, and redeemed natively on the blockchain. JPM Coin is already used by institutional clients for payments inside JPMorgan’s own systems. By moving onto Canton, those dollars would be able to circulate across a broader network shared by multiple financial institutions instead of staying inside a single bank ledger.
Public blockchain access with privacy controls
Canton Network is built for large financial institutions that need faster money movement without exposing sensitive information. The network is designed to synchronize transactions across markets including payments, securities, and collateral, while limiting visibility over transaction data. Backers of the model argue that this structure is more workable for regulated firms than fully open blockchains. The point is straightforward: banks are showing more willingness to use public blockchain infrastructure, but only with privacy protections, regulatory oversight, and strict control over fund flows.
According to Naveen Mallela, global co-head of Kinexys by J.P. Morgan, the collaboration “moves the industry forward in transacting on public blockchains.” The article also notes that in November, JPMorgan announced a partnership with Base for its connection to Ethereum (ETH), aimed at integration with other blockchain applications.
Integration will extend through 2026
The rollout will be phased rather than immediate. Digital Asset and JPMorgan plan to carry out the integration through 2026, beginning with the technical and operational work required to issue and redeem JPM Coin directly on Canton. Later stages may add other JPMorgan blockchain-based products to the network, including blockchain deposit accounts.
Wall Street firms are expanding digital asset efforts
The announcement lands as major U.S. financial institutions widen their digital asset activity. The source says Morgan Stanley recently filed with the U.S. Securities and Exchange Commission to seek approval for exchange-traded funds tied to cryptocurrency prices. Bank of America, for its part, plans to let its wealth advisers recommend crypto allocations starting in January, with no minimum portfolio size requirement. Taken together, these moves show that large banks are putting more focus on regulated, bank-controlled forms of digital money that can operate alongside traditional markets.