Kinexys by J.P. Morgan to Issue JPM Coin on Canton Network

Kinexys by J.P. Morgan, the firm’s industry-leading blockchain business unit, announced their intent to collaborate on the native issuance of Kinexys by J.P. Morgan’s deposit token product, JPM Coin on the Canton Network, a privacy-enabled blockchain network designed for synchronized financial markets. According to a story in MarketsMedia news, JPM Coin by Kinexys Digital Payments is the first bank-issued USD-denominated deposit token (ticker: JPMD) and provides institutional clients with the ability to make payments using a digital representation of J.P. Morgan USD deposits on a public distributed ledger. This innovation helps meet the growing demand from both digitally native and traditional firms seeking faster, easier, and more secure money movement on public blockchain infrastructure. In bringing JPM Coin natively to Canton, Digital Asset and Kinexys by J.P. Morgan are laying the foundation for regulated, interoperable digital money that can move seamlessly across financial markets. With native availability of JPM Coin, institutions using Canton will be able to issue, transfer, and redeem JPMD near-instantly within a secure and synchronized ecosystem.