JPMorgan adds five Asia-Pacific currencies to Kinexys

JPMorgan Chase has expanded its institutional blockchain payments platform, Kinexys, to support eight major currencies, adding five from the Asia-Pacific region. The bank announced the addition of the Australian dollar, Hong Kong dollar, Japanese yen, Chinese renminbi, and Singapore dollar to the platform, which already handled the U.S. dollar, euro, and British pound.

The expansion is designed to facilitate faster cross-border settlements and foreign exchange for corporate and institutional clients around the clock. Kinexys operates as a permissioned blockchain network where clients hold tokenized bank deposits, enabling near-instant transfers without relying on traditional banking hours or public cryptocurrencies. The platform has processed more than $4 trillion in cumulative transactions, with average daily volumes exceeding $7 billion.

Early adopters of the newly added currencies have already been announced. Payoneer, a fintech company specializing in international business payments, will be among the first to use the Australian dollar service for cross-border settlement and moving funds between markets. JERA Global Markets, the trading arm of Japanese energy company JERA,...