JP Morgan Rebrands Ethereum-Based Blockchain Network as Kinexys

Accelerating Blockchain Ambitions

Strategic Move to Enhance Blockchain Capabilities

JP Morgan, the investment bank, and asset manager have rebranded their Ethereum-based blockchain network, known as Onyx, to Kinexys by JP Morgan. The move aims to accelerate their blockchain ambitions and strengthen their position in the market.

Growth and Success of Kinexys

Impressive Transaction Volume and Daily Activity

Under the new brand name, Kinexys has experienced significant growth, processing over $1.5 trillion in transaction volume and handling an average of $2 billion daily. This makes Kinexys one of the largest blockchain-based wholesale payment systems globally.

Significant Increase in Transaction Volume

Transaction volume on Kinexys has grown tenfold over the past year, driven by its cross-border payment capabilities. These capabilities enable seamless fund transfers across global markets, even outside of traditional banking hours.

Future Developments and Innovations

Adding Foreign Exchange Capabilities

Kinexys is gearing up to introduce foreign exchange (FX) capabilities to its digital payments platform. A recent proof-of-concept (POC) conducted in collaboration with Kinexys Labs showcased advancements in on-chain privacy, identity features, and composability, setting new standards for blockchain applications in finance.