Singapore, November 6, 2024 – J.P. Morgan has announced the rebranding of its blockchain-powered wholesale payments platform from Onyx to Kinexys by J.P. Morgan at the Singapore Fintech Festival. This transformation underscores the platform’s growing influence in global payments, asset tokenization, and blockchain-driven data validation.
The Evolution of Kinexys
The name Kinexys merges "kinetic" and "connection," reflecting J.P. Morgan’s vision for rapid, efficient, and interconnected financial transactions. "Kinexys builds on Onyx’s legacy," the bank stated, emphasizing its mission to bridge traditional finance with next-generation blockchain solutions.
Key Milestones:
- Transaction Volume: Processed over $1.5 trillion in notional value.
- Daily Activity: Averages $2 billion in daily transactions.
- Global Reach: Serves clients across five continents, with a tenfold annual increase in payment transactions.
Rebranded Business Units
As part of the transition, J.P. Morgan’s subsidiary services will adopt the Kinexys branding:
| Legacy Name | New Branding |
|---|---|
| Liink | Kinexys Liink |
| JPM Coin Systems | Kinexys Digital Payments |
| Onyx Digital Assets | Kinexys Digital Assets |
| Blockchain Launch | Kinexys Labs |
Future Enhancements
👉 Explore blockchain’s potential in finance with Kinexys’ upcoming features:
- FX Integration: Kinexys Digital Payments will soon incorporate foreign exchange capabilities.
- Innovation Hub: Kinexys Labs recently showcased a proof-of-concept highlighting privacy, identity verification, and blockchain composability.
Why Kinexys Matters
Kinexys solidifies J.P. Morgan’s position as a blockchain innovator, offering solutions that transcend market hours and optimize financial operations. Its success lies in:
- Cross-Border Efficiency: Streamlining international payments.
- Asset Tokenization: Unlocking liquidity for traditional assets.
- Data Integrity: Secure, transparent validation via blockchain.
FAQs
Q: What does Kinexys mean?
A: The name combines "kinetic" (movement) and "connection," symbolizing fast, seamless financial transactions.
Q: How successful has Kinexys been?
A: It has processed $1.5 trillion** in transactions, with **$2 billion daily volume.
Q: What’s new in the rebranded platform?
A: Expect FX services and advanced blockchain features like privacy and composability.
👉 Discover how blockchain is reshaping finance with Kinexys’ cutting-edge solutions.