JPMorgan Chase is preparing to expand its digital payments strategy by issuing JPM Coin on the Canton Network. The move highlights the bank’s growing focus on multi-chain blockchain infrastructure and regulated on-chain money for institutions. The plan, announced in early January 2026, comes as JPMorgan looks to modernize settlement and liquidity across public blockchain environments.
JPM Coin Moves Beyond a Single Network
JPM Coin is a U.S. dollar-backed digital deposit token issued by JPMorgan through its Kinexys unit. It represents traditional bank deposits and stays on the firm’s balance sheet. Unlike popular stablecoins, JPM Coin targets institutional clients and works within existing banking and compliance frameworks.
After first launching on JPMorgan’s private ledger and later expanding to Coinbase’s Base network in late 2025, the bank now plans to issue the token natively on the Canton Network. The phased rollout will run through 2026. Eligible institutions will be able to issue, transfer, and redeem JPM Coin directly on Canton, which should allow faster settlement and better capital efficiency.
Why the Canton Network Matters
The Canton Network is a public, permissionless blockchain built for regulated financial use. It has backing from major institutions, including Goldman Sachs, BNP Paribas, Deutsche Börse, and BNY Mellon. The network focuses on privacy, compliance, and atomic settlement between institutional ledgers.
For JPMorgan, Canton offers an environment where regulated digital cash can move alongside tokenized securities and other on-chain assets. This setup helps reduce settlement risk while keeping regulatory controls in place. Therefore, it fits well with JPM Coin’s design and institutional focus.
Key advantages of the Canton Network include:
- Privacy-preserving transactions for financial institutions
- Support for regulated digital assets and tokenized securities
- Near-instant, atomic settlement across platforms
JPMorgan’s multi-chain approach reflects a wider trend in traditional finance. Banks increasingly want access to public blockchain networks without giving up compliance or control. By expanding JPM Coin to Canton, JPMorgan aims to break down liquidity silos and support smoother on-chain payment flows.
