J.P. Morgan’s JPM Coin to Launch on Canton’s Privacy-Focused Blockchain Network
J.P. Morgan's deposit token, JPM Coin (JPMD), is set to debut on the Canton Network, a privacy-centric layer-one blockchain. The initiative, led by Digital Asset and Kinexys, aims to provide institutional clients with a regulated digital cash solution for seamless monetary transfers and settlements. The token will represent USD-denominated deposits held at J.P. Morgan, addressing growing demand for efficient blockchain-based fund movements.
The partnership leverages Canton's infrastructure to bridge traditional finance with decentralized networks. Yuval Rooz, CEO of Digital Asset, emphasized the project's potential to deliver "regulated digital cash" capable of matching market velocity. This MOVE signals accelerating institutional adoption of blockchain technology for settlement efficiency.
