J.P. Morgan to Issue Its Stablecoin on Canton Network

Summary

CoinDesk Daily covers JPMorgan's plan to bring JPM Coin natively to the Canton Network for 24/7 settlement with tokenized assets. It also reports on a new Florida bill proposing a strategic cryptocurrency reserve funded through digital asset investments. The segment notes World Liberty Financial's trust company application for an OCC national charter to issue USD1 and provide institutional custody, amid a more favorable U.S. regulatory environment for crypto firms.

• JPMorgan plans to issue JPM Coin on the Canton Network in phases through 2026.
• The JPM Coin integration aims to enable 24/7 settlement alongside tokenized real-world assets.
• Florida bill HB 1039 would create a strategic cryptocurrency reserve and allow digital asset investments as an inflation hedge.
• The Florida proposal reinforces the state's anti-CBDC stance.
• World Liberty Trust Company applied for an OCC national charter.
• If approved, the trust bank would issue USD1 stablecoin and offer institutional custody.
• The segment notes prior OCC charters granted to crypto firms including Circle, Ripple, Fidelity Digital Assets, BitGo, and Paxos.