JPMorgan is working with the Canton Network to step up its global expansion strategy for JPM Coin, Cointelegraph reported on Tuesday.

The partnership focuses on using JPM Coin directly on public blockchains.

JPMorgan's blockchain unit Kinexys already operates JPM Coin on Coinbase's Base network. It sees cooperation with the Canton Network as a key element of a multi-chain strategy.

Yuval Rooz, co-founder and CEO of Digital Asset (DA), stressed that it is a partnership that realises a vision of enabling digital currency to move quickly under regulation.

The Canton Network is a public blockchain for financial institutions and is characterised by combining privacy, regulatory compliance and scalability. Navin Mallela, a global co-head at JPMorgan, said JPM Coin is an innovative solution that combines the security of bank deposits with blockchain speed.

The companies will pursue phased integration through 2026 and plan to build technical and business frameworks that would allow JPM Coin to be issued, transferred and redeemed instantly on the Canton Network. Over the longer term, they plan to integrate JPMorgan digital payments products such as blockchain deposit accounts to support institutional investors using them in tokenised securities and decentralised finance (DeFi) environments.