Latest news with #Kinexys
Yahoo
5 days ago
- Business
- Yahoo
Marex Becomes First Clearing Firm to Adopt JPMorgan's Kinexys With Brevan Howard Digital
Marex (MRX), a global financial services platform, has become the first clearing firm to integrate Kinexys Digital Payments, a blockchain-based settlement system developed by JPMorgan (JPM), through a collaboration with Brevan Howard Digital, the company said in a press release on Wednesday. The initiative is aimed at modernizing payment infrastructure and reducing settlement risk by leveraging programmable, always-on digital ledger technology, the company said. Kinexys is part of JPMorgan's broader push into digital assets and allows for near-instant settlement through blockchain deposit accounts, marking a significant shift from legacy rails to 24/7 digital clearing mechanisms. Brevan Howard Digital, which joined the Kinexys network in 2024, has been collaborating with partners to develop a broader ecosystem for blockchain-based financial services. Marex's adoption of the platform underscores its commitment to streamlining operations and enhancing client service via next-gen infrastructure. 'Kinexys by JPMorgan is the next generation of financial market infrastructure,' said Terry Hollingsworth, Marex's global head of futures and over-the-counter (OTC) clearing sales, in the release. Akshika Gupta, global head of client solutions at Kinexys, said "24/7 settlements represents a significant milestone in the advancement of financial market infrastructure,' reaffirming the firm's role in pushing forward institutional-grade blockchain in to access your portfolio
Business Wire
5 days ago
- Business
- Business Wire
Deluxe Acquires CheckMatch from Kinexys by J.P. Morgan to Extend Digital Lockbox Payments Capability
MINNEAPOLIS--(BUSINESS WIRE)--Deluxe (NYSE: DLX), a trusted Payments and Data company, today announced it has completed the acquisition of CheckMatch from Kinexys by J.P. Morgan, the firm's industry-leading blockchain business unit. Consistent with the company's strategy, this acquisition will expand the Deluxe Payment Network (DPN) solution. CheckMatch is a service that digitizes the delivery of paper checks, enabling faster electronic conveyance, which was developed by Kinexys by J.P. Morgan. The DPN solution digitally connects physical lockboxes across the Deluxe network, which helps to more efficiently process payments made to thousands of businesses across the U.S. By adding CheckMatch to the platform, Deluxe further extends the company's Payments scale, enabling potential revenue and cost synergies. 'In alignment with our strategy to expand in Payments and Data, this acquisition marks a continued investment across our B2B payments portfolio,' said Barry McCarthy, President and CEO of Deluxe. 'By bringing together the strengths of CheckMatch and DPN, we are building the largest purpose-built digital lockbox network in the market—delivering value through scale, security, and simplicity in competition with traditional offerings.' Deluxe has already more than doubled the number of lockboxes accessible through DPN in the first half of 2025. Once integration of CheckMatch is completed—the combined platform is expected to include five of the top 10 U.S.-based lockbox providers and multiple leading disbursement partners, including financial institutions, AP automation platforms, and a major medical payments provider. "We are thrilled to see CheckMatch become an integral part of a larger vision that embodies our shared commitment of bringing next-gen innovation to the world of finance and delivering exceptional value for our clients," said Umar Farooq, Global Co-Head of J.P. Morgan Payments. "We are confident that Deluxe is well-positioned to elevate CheckMatch to the next level and will ensure a seamless transition." Check payments remain a critical component of the B2B payments ecosystem, particularly for large enterprises, financial institutions, and disbursement partners. This expanded inter-lockbox network delivers meaningful cost savings by eliminating postage, envelopes, labor, handling, and physical check costs for payors—including major bill pay platforms and financial institutions. For payees, the process remains virtually unchanged. Payments follow the same well-established lockbox protocols, but are now delivered digitally—streamlining operations without disrupting treasury workflows. By digitizing the delivery of check payments, the network simplifies reconciliation, improves reliability, and helps treasurers manage payments with greater speed and confidence. As the network scales, participants will benefit from increased efficiency and growing value through shared infrastructure and reach. A division of J.P. Morgan Payments, Kinexys by J.P. Morgan has exceeded $2 trillion in notional value1 to date, processing on average $3 billion daily in transaction volume2. Payment transactions on the platform have grown by 10x year-over-year3, with clients now spanning five continents. The business is transforming how information, money and assets move around the world, helping clients harness the speed and efficiency enabled by blockchain technology. About Deluxe Deluxe, a Trusted Payments and Data Company, champions business so communities thrive. Our solutions help businesses pay, get paid, and grow. For more than 100 years, Deluxe customers have relied on our solutions and platforms at all stages of their lifecycle, from start-up to maturity. Our powerful scale supports millions of small businesses, thousands of vital financial institutions and hundreds of the world's largest consumer brands, while processing more than $2 trillion in annual payment volume. Our reach, scale and distribution channels position Deluxe to be our customers' most trusted business partner. To learn how we can help your business, visit us at 1. JPMC proprietary data 2024 2. JPMC proprietary data 2024 3. Based on Jan.-Aug. 2023 vs. 2024 YoY transaction volume attributed to growth driven by Kinexys Digital Payments.
Yahoo
03-07-2025
- Business
- Yahoo
JPMorgan's Blockchain Arm Kinexys Tests Tokenized Carbon Credits With S&P Global
Global bank JPMorgan's blockchain arm Kinexys is working with S&P Global Commodity Insights to explore tokenization for managing and issuing carbon credits, the firms said on Wednesday. The project, according to a press release, focuses on testing how tokenized carbon credits can be created and tracked using blockchain infrastructure. These credits, which represent greenhouse gas reductions from projects like reforestation or renewable energy, are often bought by companies aiming to offset their emissions. The firms will focus on how blockchain handles credit lifecycle management, data compatibility and registry access. "Our shared aim is to establish standardized infrastructure that enhances information and price transparency, paving the way for financial innovation and increased market liquidity," said Keerthi Moudgal, head of product at Kinexys Digital Assets. The initiative underscores JPMorgan's growing presence in the red-hot tokenization space, a sector that has attracted global banks and asset managers such as BlackRock, HSBC and Citi. Tokenization is the process of using blockchain rails to transact with traditional financial instruments, promising more efficient operations, around-the-clock settlements and increased transparency. JPMorgan has been an early leader operating its own private blockchain network Kinexys, formerly known as Onyx and JPM Coin, which now settles $2 billion in daily transactions, according to the bank. It also piloted last month a deposit token called JPMD on Base, an Ethereum layer-2 network developed by in to access your portfolio
Gulf Insider
01-07-2025
- Business
- Gulf Insider
Stablecoins Are Becoming 'Default Settlement Layer
Stablecoins have become the backbone of internet payments, with adoption now outpacing major traditional card networks in onchain volume, according to Noam Hurwitz, head of engineering at Alchemy. Hurwitz told Cointelegraph that stablecoins have seen 'explosive' adoption, adding that they are 'becoming the default settlement layer for the internet.' Companies like PayPal and Stripe are integrating stablecoins to leverage onchain infrastructure, enabling faster and cheaper transactions. 'They've already surpassed Visa and Mastercard in onchain volume by 7%,' Hurwitz noted, signaling a decisive shift in how money moves online. Alchemy, which provides infrastructure to some of the largest stablecoin ecosystems, is at the center of this transformation. Hurwitz said Alchemy is 'the onchain provider for Robinhood Wallet' and powers stablecoin flows for fintech giants like Visa, Stripe, Circle, and PayPal. Hurwitz said that stablecoins make money 'cheap, fast, global, and secure to transfer.' These features have made them popular for various purposes, with broad adoption emerging across cross-border payments and prediction markets like Polymarket. He added that stablecoins have become massive buyers of US Treasurys, with Tether alone generating $13 billion in profits last year while holding around $113 billion in US debt. 'Tokenized money is the base of the tokenized financial system,' Hurwitz said, calling recent financial innovation built on this foundation 'exciting.' Tether holds more US Treasurys than Germany. Source: TFTC Hurwitz said stablecoins are already functioning as the 'default rails' for internet payments in many respects but flagged challenges stemming from the fragmented blockchain landscape. Institutions, he explained, want to move quickly but must assess provider reliability and counterparty risks, especially in a nascent industry. 'Can a small startup really support enterprise-grade operations while building and scaling the services they need?' he asked. Hurwitz pointed to Kinexys, a tokenized bank deposit launched by JP Morgan, as a major milestone. The permissioned deposit token enables institutional clients to access yield-bearing deposits on a public blockchain with '24/7 settlement, near real-time liquidity and the potential ability to pay interest to holders.' Last week, the US Senate passed the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, a landmark bill establishing federal guardrails for stablecoins. 'With the recent passage of the Genius Act, the regulatory landscape is becoming clearer and more structured, which benefits established financial players while also encouraging innovation,' Hurwitz said. Meanwhile, Hurwitz pointed out key technical bottlenecks in improving developer and end-user experience despite strong growth. 'Companies benefit immensely from settling on crypto rails, but want to decouple the user experience from the underlying technology — and doing so takes deep technical expertise,' he explained. Looking ahead, Hurwitz expects most financial services to deploy their own blockchains, especially layer 2 networks, to better scale and monetize their ecosystems. He predicted that infrastructure improvements would drive 'seamless crosschain interoperability' between these networks, enabling a more connected and efficient financial system built on stablecoins. Despite Hurwitz's optimistic view of stablecoins, a new Bank for International Settlements (BIS) report challenges the notion that they can serve as money in a modern financial system. The BIS Annual Economic Report 2025 claims stablecoins fail critical singleness, elasticity, and integrity tests. The organization described stablecoins as 'digital bearer instruments' that resemble financial assets more than actual money. Also read: Indian Politician Calls For Bitcoin Reserve Pilot As US Embraces Crypto
Crypto Insight
13-06-2025
- Business
- Crypto Insight
Chainlink, JPMorgan, Ondo Finance complete crosschain treasury settlement
Chainlink, JPMorgan's Kinexys and Ondo Finance completed a 'first-of-its-kind' crosschain delivery versus payment (DvP) settlement between a permissioned payment network and a public testnet. The test involved Kinexys Digital Payments, a permissioned network operated by JPMorgan and Ondo Chain's testnet, which is focused on real-world asset (RWA) tokenization, Chainlink said in a Thursday announcement. The settlement was coordinated using Chainlink's Runtime Environment (CRE), an offchain compute layer designed for interoperable financial systems. At the center of the transaction was OUSG, Ondo's tokenized US Treasurys fund, which was exchanged for payment via Kinexys' platform. The move comes as TradFi and decentralized finance (DeFi) increasingly converge. With over $23 billion in tokenized RWAs now live on public blockchains, the need for crosschain settlements grows. How was the settlement executed? The recent DvP test involved the exchange of OUSG and a simultaneous fiat payment through Kinexys Digital Payments. RE orchestrated the workflow, verified escrow events on Ondo Chain, initiated payment instructions via Kinexys and coordinated the final settlement. Notably, only transaction instructions crossed between networks. The successful transaction is the first to be executed on the Ondo Chain testnet and represents an expansion of Kinexys' settlement capabilities beyond private chains. 'CRE is highly configurable and can be used to settle different types of DvP transactions of varying complexity, including single-chain and multichain DvP transactions, enabling complex financial activity with reduced counterparty and settlement risk,' Chainlink said. RWA market surges 260% In the first half of 2025, the RWA market surged more than 260%, surpassing $23 billion in total valuation. It was $8.6 billion at the beginning of the year, according to a Binance Research report shared with Cointelegraph. Tokenized private credit led the RWA market boom, accounting for about 58% of the market share, followed by tokenized US Treasury debt, which accounted for 34%. New players also continue to enter the market. On June 5, Pan-European fund manager APS purchased 3 million euros ($3.4 million) in tokenized bonds tied to two Italian residential properties listed on MetaWealth. Source:
