JPMorgan’s Kinexys Deploys JPM Coin to Canton Network

JPMorgan’s blockchain unit, Kinexys, selected the Canton Network as the next settlement layer for JPM Coin (JPMD) today, marking the bank’s second expansion onto a public blockchain infrastructure following its deployment on Base in late 2025.

The move explicitly targets the fragmentation problem in institutional finance. By integrating with Canton, a privacy-enabled Layer 1 built by Digital Asset, JPMorgan aims to allow JPM Coin to function as a programmable settlement instrument across disparate applications without sacrificing regulatory controls. JPM shares traded flat at $244.10 (+0.6%) as the market digested the infrastructure play.

The Technical Vector

Unlike previous private permissioned iterations, this integration utilizes Canton’s "Global Synchronizer" to enable atomic transactions between JPM Coin and other tokenized assets (like U.S. Treasuries or corporate bonds) on the network. Kinexys, formerly known as Onyx, stated this architecture allows for 24/7 intraday repo and collateral mobility that legacy rails cannot support.

"This collaboration brings to life the vision of regulated digital cash that can move at the speed of markets," said Yuval Rooz, CEO of Digital Asset. "JPM Coin delivers the security of bank-issued deposits combined with the speed of blockchain transactions."

Institutional Context

This deployment reinforces a trend of banks abandoning "walled garden" pilots for interoperable public-permissioned hybrids. With Canton Network already hosting pilots for the DTCC and Euroclear, the arrival of a high-volume commercial bank coin provides the necessary liquidity leg for a functional on-chain capital market. Competitors are lagging; while Citi and Wells Fargo experiment with similar tokenized deposits, JPMorgan’s Kinexys is the first to push a live USD settlement token onto multiple third-party chains.