J.P. Morgan’s JP Coin Deposit Token Set to Launch on Canton’s Privacy-Focused Network - A Major Step for Institutional Crypto

Wall Street's blockchain ambitions just got a privacy upgrade. J.P. Morgan is preparing to launch its deposit token, JP Coin, on the Canton Network—a platform designed for confidential institutional transactions. This move signals a deeper institutional dive into programmable finance, but with the blinds drawn.

The Privacy Play

Canton's architecture lets banks and asset managers settle transactions and execute smart contracts without broadcasting sensitive details to the entire world. Think of it as a members-only club for multi-million dollar deals. JP Coin, representing real fiat deposits, will now move through this discreet channel, potentially streamlining everything from cross-border payments to complex collateral arrangements.

Why It Cuts Through the Noise

This isn't just another pilot. It's a strategic deployment by the largest bank in the U.S. onto a network built for the very regulatory and privacy hurdles that have kept traditional finance on the sidelines. It bypasses the transparency of public blockchains—a feature that's a bug for most corporate treasuries—while keeping the efficiency gains.

The Bigger Picture: A Networked Future

The launch points toward a fragmented future of finance: public chains for some use cases, and private, permissioned networks like Canton for others. J.P. Morgan isn't just participating; it's helping build the rails. Expect other major players to follow suit, creating interconnected, institutional-grade liquidity pools that operate just out of public view.

One cynical finance jab? It's the ultimate 'do as I say, not as I do'—banks champion decentralization publicly while building the most exclusive centralized networks money can buy. The revolution will be institutionalized, and it will be invoiced at a premium.

J.P. Morgan’s JPM Coin (JPMD) to debut on the Canton network

According to a press release, the rollout aims to provide institutions with a solution for processing payments and settlements using JPM Coin as a digital representation of J.P. Morgan’s monetary deposits. The announcement detailed that the invention aims to address a widening gap caused by the growing demand for faster, easier, and more secure fund transfer solutions on public blockchain infrastructure at the institutional level. The partnership aims to leverage Canton’s layer-one blockchain to offer Canton users regulated VIRTUAL currency that they can connect with different financial markets.

Yuval Rooz, Co-Founder and CEO of Digital Asset, said that the alliance “brings to life the vision of regulated digital cash” that can match the speed of markets. He added that bringing JPM Coin natively to Canton will establish the foundation for modernizing the existing financial frameworks to streamline the movement of capital. Rooz emphasized that the project aims to bridge traditional finance and blockchain infrastructure in a way that promotes trust, regulatory compliance, and privacy (through leveraging Canton’s blockchain).

Naveen Mallela, Global Co-Head of Kinexys by J.P. Morgan, stated that the collaboration represents a significant step forward, advancing the industry’s ability to transact on public blockchains. Mallela added that JPM Coin will offer bank-level security and settlement alongside the speed and innovation of blockchain technology. 

The project is set to follow a systematic, phased approach during its integration and deployment throughout 2026, with the initial phase focusing on the development of the necessary frameworks to support the JPMD crypto asset. The announcement also suggested that the two partners may explore integrations within other Kinexys Digital Payments products, such as J.P. Morgan’s Blockchain Deposit Accounts, to expand the offerings and capabilities available to Canton users.

Data from CoinMarketCap shows that Canton’s native crypto asset, CC, is down 8% over the past week and approximately 5% in the last 24 hours. The crypto asset is currently trading at $0.1337 and has a market cap of $4.95 billion.

DTCC partners with Canton Network to tokenize U.S. treasury securities

DTCC teams up with Digital Asset Holdings and Canton Network to tokenize DTC-custodied securities on-chain. This marks the first step toward real-world assets on DLT—driving efficiency and market transparency.

Read the press release: https://t.co/ca2yaUXZ2I pic.twitter.com/GWXS4iP5Pi

— DTCC (@The_DTCC) December 17, 2025

The news follows the Depository Trust & Clearing Corporation (DTCC) ‘s adoption of the Canton Network to tokenize U.S. Treasury securities. According to official reports, the partnership between DTCC and Canton Network will allow a portion of the U.S. treasury securities under the corporation’s custody to be minted on-chain. 

The collaboration followed recent news that DTCC had received a no-action letter from the United States financial watchdog, the Securities and Exchange Commission (SEC). The letter gave the trust the green light to implement and operate a new service to tokenize real-world, DTC-custodied assets.

The Canton network emerged as a platform to enable institutions to issue and trade tokenized real-world assets, such as loans, bonds, and funds. The crypto project sparked a boom in the privacy coin sector in mid-December of last year, leading to a surge in the privacy coin market. 

Cryptopolitan reported that the boom was a result of the partnership between DTCC and Canton Network. An official press release from the U.S. financial market infrastructure revealed that the partners will be working on an MVP in a controlled production environment in 2026.

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