Since its inception, over US$2 trillion has been processed on the Kinexys by JP Morgan platform. Kinexys is JP Morgan’s rebranded (formerly Onyx) digital payments and blockchain platform, designed to modernise global financial infrastructure through tokenisation, cross-border payments, and real-time data exchange. On average, Kinexys processes US$3 billion a day in transaction volume.
At Singapore Fintech Festival (SFF) 2025, JP Morgan launched its JP Morgan Coin, a USD-denominated token (JPM Coin) for institutional clients to enable them to make “onchain native digital payments”, which serve as a digital representation of a bank deposit on a public blockchain.
JP Morgan launched the USD deposit token proof-of-concept in June this year. Clients, including B2C2, Coinbase and Mastercard, completed near-instant issuance and redemption of JPM Coin on Coinbase as part of the proof-of-concept.
