BCGAME - Free 5BTC Daily Bonus!- Kinexys leads in blockchain FX settlements
- Multi-currency expansion planned
- Advanced features for security and privacy
JPMorgan has taken a major step into blockchain-based financial services with the launch Kinexys has announced a significant update to its platform, now renamed Kinexys. This new version innovatively integrates digital payments into foreign exchange (FX) services, starting with settlements in US dollars (USD) and euros (EUR). The launch positions Kinexys as a leading platform in the cross-border digital payments space.
During the Singapore Fintech Festival, Kinexys CEO Umar Farooq announced the transformation, noting that the new naming convention will consolidate all of JPMorgan’s blockchain operations under the Kinexys brand. This change will span areas such as information, money and asset management. With an initial focus on USD-EUR transactions, Kinexys intends to expand its support to other currencies in the future, facilitating near-instantaneous FX settlements that promise to minimize risk and streamline trading.
Since its inception as Onyx, Kinexys has moved over $1,5 trillion in transactions, averaging $2 billion daily. This substantial growth reflects its ability to facilitate seamless global transactions, available 24 hours a day, including outside of traditional banking hours. The platform recently announced new features, including on-chain privacy, identity verification and composability, to further enhance digital payments for security and flexibility.
In addition to FX trading, Kinexys also serves a range of financial institutions, corporations, and financial technology companies (FinTechs). In October 2023, the platform reached an impressive milestone, recording $1 billion in daily transactions through JPM Coin, now integrated into the Kinexys Digital Payments system.
