The brief
- JPMorgan established its blockchain division in 2015 and launched JPM Coin in 2019, initially for internal payments and repo transactions.
- The division rebranded to Kinexys in November 2024, expanding from a single product into a platform for payments, digital assets, and data.
- Major clients include Qatar National Bank, FedEx, Axis Bank (India), and Ant International.
Technical approach
Multiple Chains
Operates on permissioned and public blockchains
Kinexys runs on a proprietary network but expanded to public chains including Base and Solana for institutional interoperability.
Deposit Tokens
Real bank deposits, not stablecoins
JPMD represents direct claims on JPMorgan deposits. Each unit is backed 1:1 by US dollar deposits at the bank.
Instant Settlement
24/7 blockchain-based settlement
Institutional clients conduct transactions on public blockchains with instant settlement, replacing traditional multi-day banking.
Three Service Lines
Payments, assets, and financial messaging
Kinexys has three divisions: Digital Payments, Digital Assets for tokenized securities, and Liink for messaging.
