skip to Main Content
bitcoin
Bitcoin (BTC) $ 75,510.23 7.90%
ethereum
Ethereum (ETH) $ 2,677.47 9.42%
tether
Tether (USDT) $ 1.00 0.23%
solana
Solana (SOL) $ 187.63 12.39%
bnb
BNB (BNB) $ 588.64 3.71%
usd-coin
USDC (USDC) $ 1.00 0.03%
xrp
XRP (XRP) $ 0.53625 4.37%
dogecoin
Dogecoin (DOGE) $ 0.194685 11.60%
staked-ether
Lido Staked Ether (STETH) $ 2,677.49 9.48%
tron
TRON (TRX) $ 0.163971 1.78%

JPMorgan Renames Blockchain Platform to Kinexys, to Add On-Chain FX Settlement for USD, EUR

  • JPMorgan’s rebranded its Onyx unit focused on tokenization and blockchain as Kinexys.

  • The bank will introduce on-chain foreign exchange capabilities as early as first-quarter 2025, with plans for automated, around-the-clock multicurrency settlements.

  • Why Bitcoin Will Be the Winner Regardless of U.S. Election Results

    01:35

    Why Bitcoin Will Be the Winner Regardless of U.S. Election Results

  • DOGE Surges on U.S. Election Day; Bitcoin ETFs Shed $541M and Mt. Gox Moves $2.2B BTC

    02:25

    DOGE Surges on U.S. Election Day; Bitcoin ETFs Shed $541M and Mt. Gox Moves $2.2B BTC

  • Election Night Insights: Prediction Markets Don't Tell the 'Full Story,' Mark Connors Says

    18:56

    Election Night Insights: Prediction Markets Don’t Tell the ‘Full Story,’ Mark Connors Says

  • U.S. Recession Signal Flares From 10-Year and 3-Month Yield Spread

    01:09

    U.S. Recession Signal Flares From 10-Year and 3-Month Yield Spread

  • JPMorgan (JPM) rebranded its blockchain platform, formerly Onyx, as Kinexys as the banking giant doubled down on real-world asset tokenization efforts.

    “We aim to move beyond the limitations of legacy technology and realize the promise of a multichain world,” Umar Farooq, co-head of JP Morgan Payments said in a statement. “Our goal is to foster a more connected ecosystem to break down disparate systems, enable greater interoperability and reduce the limitations of today’s financial infrastructure.”

    Tokenization of real-world assets (RWA) such as traditional financial instruments has been a fast-growing area for blockchain technology with big banks getting increasingly involved. JPMorgan was one of the early leaders in the tokenization space with Onyx and its JPM Coin blockchain-based settlement tech. JPM Coin has been renamed to Kinexys Digital Payments.

    JPMorgan’s blockchain business has executed over $1.5 trillion of transactions such as intraday repos and cross-border payments since its inception in 2020, processing an average of more than $2 billion a day, according to the bank. Its users are enterprises around the globe such as Siemens, BlackRock and Ant International.

    The bank said it plans to introduce on-chain foreign exchange capabilities to the platform as early as the first quarter of 2025, paving the way for the “automation of 24/7, near real-time multicurrency clearing and settlement.” The service will first be available for the U.S. dollar and euro with plans to expand to other currencies.

    “With growing transaction volumes, client adoption and product expansion, we’re poised to accelerate the adoption of blockchain technology and tokenization into mainstream financial services,” the bank said.

    CORRECTION (Nov. 6, 16:50 UTC): Corrects spelling Kinexys in headline.

    Edited by Sheldon Reback.

    Leave a Reply

    Loading data ...
    Comparison
    View chart compare
    View table compare
    Back To Top