London-based Marex has become the first financial firm to use JPMorgan’s Kinexys blockchain platform for real-time client settlements. Partnering with hedge fund Brevan Howard Digital, Marex now leverages Kinexys Digital Payments to access blockchain-based deposit accounts for instant payment processing.
The system reduces settlement risk and cost while maintaining traditional banking-grade security. Kinexys, a rebranded evolution of JPM Coin and Onyx, is part of JPMorgan’s push toward programmable, permissioned financial infrastructure.
Unlike public blockchains, Kinexys operates a closed, regulated ledger where only approved participants can validate transactions.
Analysts say this move marks a pivotal moment in institutional adoption of blockchain in legacy finance. Presto Labs’ Peter Chung noted the shift won’t offer immediate financial benefits but positions early adopters like Marex to lead in the long run.
As TradFi firms increasingly explore blockchain for efficiency, JPMorgan’s Kinexys could become a backbone for high-value, institutional-grade financial services globally.
You need to login in order to Like
Leave a comment