JPMorgan Renames Blockchain Platform to Kinexys, to Add On-Chain FX Settlement for USD, EUR

JPMorgan (JPM) rebranded its blockchain platform, formerly Onyx, as Kinexys as the banking giant doubled down on real-world asset tokenization efforts. Tokenization of real-world assets (RWA) such as traditional financial instruments has been a fast-growing area for blockchain technology with big banks getting increasingly involved. JPMorgan was one of the early leaders in the tokenization space with Onyx and its JPM Coin blockchain-based settlement tech. JPMorgan's blockchain business has executed over $1.5 trillion of transactions such as intraday repos and cross-border payments since its inception in 2020, processing an average of more than $2 billion a day.

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