Digital Asset and Kinexys by J.P. Morgan to collaborate
08 January 2025 US
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Digital asset and Kinexys by J.P. Morgan, the firm's blockchain business unit, have outlined intentions to collaborate on the native issuance of Kinexys by J.P. Morgan’s JPM Coin on the Canton Network.
JPM Coin is the first bank-issued, USD-denominated depository token, designed to provide institutional clientele with the ability to make payments using a digital representation of J.P. Morgan US dollar deposits, on a public distributed ledger.
The partnership is said to lay the foundation for regulated, interoperable digital money, with the goal of moving seamlessly across financial markets.
Yuval Rooz, co-founder and CEO of Digital Asset, believes that bringing JPM Coin natively to Canton will bridge TradFi and digital infrastructure “in a way that preserves privacy, compliance, and trust”.
Naveen Mallela, global co-head of Kinexys by JP Morgan, adds: “This collaboration moves the industry forward in transacting on public blockchains.”
Set out in the collaboration’s terms, integration will take a phased approach throughout 2026, with focus initially centred on establishing both the technical and business frameworks necessary to support the issuance, transfer, and redemption of JPM Coin on canton.
The partnership also outlines plans to explore further integrations of other Kinexys Digital Payments products, expanding the offering to those participating in the Canton Ecosystem.
JPM Coin is the first bank-issued, USD-denominated depository token, designed to provide institutional clientele with the ability to make payments using a digital representation of J.P. Morgan US dollar deposits, on a public distributed ledger.
The partnership is said to lay the foundation for regulated, interoperable digital money, with the goal of moving seamlessly across financial markets.
Yuval Rooz, co-founder and CEO of Digital Asset, believes that bringing JPM Coin natively to Canton will bridge TradFi and digital infrastructure “in a way that preserves privacy, compliance, and trust”.
Naveen Mallela, global co-head of Kinexys by JP Morgan, adds: “This collaboration moves the industry forward in transacting on public blockchains.”
Set out in the collaboration’s terms, integration will take a phased approach throughout 2026, with focus initially centred on establishing both the technical and business frameworks necessary to support the issuance, transfer, and redemption of JPM Coin on canton.
The partnership also outlines plans to explore further integrations of other Kinexys Digital Payments products, expanding the offering to those participating in the Canton Ecosystem.
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