JPMorgan has expanded its Kinexys blockchain platform by adding five Asia-Pacific currencies, bringing the total supported currencies to eight. The new additions include the Australian dollar (AUD), Hong Kong dollar (HKD), Japanese yen (JPY), Chinese renminbi (CNH), and Singapore dollar (SGD). These join the existing U.S. dollar, euro, and British pound on the platform’s Blockchain Deposit Account network, which allows institutional clients to hold and transfer tokenized bank deposits on a JPMorgan-operated blockchain.
Kinexys, formerly known as Onyx before its November 2024 rebranding, has processed more than $4 trillion in cumulative transactions and handles daily volumes exceeding $7 billion. The platform does not involve cryptocurrencies; instead, it represents fiat deposits as digital tokens that are settled almost instantly within the regulated banking system.
Two major clients have already signed on as early adopters for the new currencies. Fintech firm Payoneer will use the Australian dollar service for cross-border payment settlement and inter-market fund movements. JERA Global Markets, the trading arm of Japanese energy company JERA, will be the first to transact in Japanese yen, leveraging 24/7 liquidity for large, time-sensitive energy trades.
JPMorgan’s blockchain initiatives extend beyond Kinexys. The bank’s USD-denominated deposit token, JPM Coin (JPMD), has been deployed on Coinbase’s Base network, an Ethereum Layer 2, with integration into the Canton Network expected by end-2026. Additionally, JPMorgan has launched tokenized money market funds on Ethereum under the tickers MONY and JLTXX, highlighting its increasing use of public blockchain infrastructure.
