News, data and analysis on tokenized assets, market design and digital economic systems.
America's largest bank, with $4.9tn of total assets as at 31 March 2026, whose Kinexys unit reports more than $3tn of blockchain transactions since inception and whose JPMD token is a transferable claim on a JPMorgan dollar deposit rather than a stablecoin.
The largest US bank, with $4.9tn of total assets as at 31 March 2026, and the most active bank in tokenised payments through its Kinexys unit, which reports more than $3tn of blockchain transactions since inception and average daily volume above $5bn. Its JPMD token is a transferable claim on a JPMorgan dollar deposit rather than a stablecoin: it became available to institutional clients on Base in November 2025 after a June 2025 proof of concept, and Kinexys and Digital Asset said in January 2026 that it would be issued natively on the Canton Network. The bank is a founding participant in the shared tokenised deposit venture with Bank of America, Citi and other owners of The Clearing House, and one of 54 firms in the tokenisation taskforce HM Treasury convened on 13 July 2026, so its deposit token sets the reference point against which bank-issued money is compared with stablecoins.
Developments in which JPMorgan Chase & Co. is a named party, newest first.
DTCC started limited production trading on its DTC Tokenization Service in July 2026, covering Russell 1000 constituent stocks, major ETFs and US Treasury securities. JPMorgan, BlackRock and Goldman Sachs are among more than 50 participating firms, with full…
JPMorgan said on 7 January 2026 that it would issue JPMD, its dollar deposit token, natively on the Canton Network, a privacy-oriented institutional blockchain. The move extends…
DTCC began limited production trades on the DTC Tokenization Service in July 2026, covering Russell 1000 constituents, large index-tracking exchange-traded funds and US Treasury bills, notes and bonds, with commercial launch targeted for October 2026. More than 50 firms, among them BlackRock, Goldman Sachs, JPMorgan, Kraken and Circle, joined the industry working group; DTCC said tokenized holdings carry the same entitlements and ownership rights as assets held in conventional form.
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