Digital Asset and Kinexys by JP Morgan announced on Wednesday, January 7, their intention to bring JP Morgan's dollar-denominated deposit token, JPM Coin (ticker: JPMD), natively to Canton Network, the leading privacy-enabled blockchain designed for institutional finance.

Under the planned collaboration, JPMD would be issued directly on Canton, allowing institutions to issue, transfer, and redeem the token in near real-time within a secure environment. The companies said integration would follow a phased approach throughout 2026, with initial work focusing on establishing the technical and business frameworks required to support native issuance.

JPMD is a bank-issued deposit token representing US dollar deposits held at JP Morgan. Unlike stablecoins issued by private companies, deposit tokens are issued by licensed commercial banks and represent actual customer deposits, subject to banking regulations and FDIC insurance.

Yuval Rooz, co-founder and chief executive of Digital Asset, said the integration reflects a broader shift in how institutions approach digital money. Speaking to Investing.com, Rooz stated that the initiative points to where institutional blockchain adoption is heading as firms seek networks supporting privacy, compliance, and interoperability at scale - three aspects satisfied by Canton itself.

Naveen Mallela, global co-head of Kinexys by JP Morgan, said the collaboration advances transacting on public blockchains. He noted that JPM Coin combines the security of bank-issued deposits with 24/7, near real-time blockchain transactions, and that bringing it onto Canton could increase efficiency and unlock liquidity.

From Fraud to Favorite

The announcement represents a continuation of JP Morgan's expanding blockchain strategy, which has accelerated significantly despite CEO Jamie Dimon's well-documented scepticism toward Bitcoin. 

Dimon famously called Bitcoin a "fraud" in 2017 and has since labelled it a "Ponzi scheme" and "pet rock," while consistently distinguishing between the cryptocurrency and the underlying technology. 

"Blockchain is real, and it's a technology. We at JPMorgan use it”, said Dimon in October.

The bank has backed those words with action. In November, JP Morgan launched JPM Coin for institutional clients on Coinbase's Base blockchain, becoming the first bank to issue a US dollar deposit token on a public blockchain. Thereafter, In December, the bank's asset management arm launched its first tokenised money-market fund built on Ethereum.

Canton Network, created by Digital Asset, is a public, permissionless blockchain built specifically for institutional finance. It combines privacy features with compliance capabilities, allowing financial institutions to transact on shared infrastructure while maintaining regulatory requirements. The network itself is overseen by the Canton Foundation.

The development is just the latest installment in a recent slew of announcements that see Canton partner with some of traditional finance’s most important institutions. The last few weeks have also seen the blockchain partner with the likes of NASDAQ, DTCC, and EDX Markets.

Sources

• PR Newswire: Digital Asset and Kinexys by J.P. Morgan announce intention to bring USD JPM Coin (JPMD) natively to the Canton Network
• Investing[.]com: J.P. Morgan's JPM Coin set for native issuance on Canton Blockchain
• Fortune: Jamie Dimon's latest crypto comments show CEO is warming to blockchain, silent on Bitcoin
• Barchart: Jamie Dimon Once Called Bitcoin a 'Fraud.' Now, JPMorgan Is Quietly Making Blockchain History

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