At the Singapore Fintech Festival, J.P. Morgan unveiled a significant rebranding initiative, transforming its blockchain platform Onyx into Kinexys by J.P. Morgan. This strategic move signifies the company's commitment to innovation and leadership in the rapidly evolving landscape of wholesale payments.
The name Kinexys draws inspiration from the words "kinetic" and "connection," aptly capturing the platform's essence. It reflects the seamless and efficient movement of money, assets, and financial information across the globe, facilitated by blockchain technology. Kinexys embodies J.P. Morgan's dedication to connecting the world of financial services through cutting-edge solutions.
Kinexys builds upon the remarkable achievements of its predecessor, Onyx. Since its inception, the platform has processed over $1.5 trillion in notional value, with an average daily transaction volume exceeding $2 billion. The platform has demonstrated phenomenal growth, with payments transactions increasing tenfold year-over-year. Furthermore, Kinexys has facilitated some of the largest repo transactions ever executed on a blockchain globally, solidifying its position as a leader in the field.
With a presence across five continents, Kinexys empowers businesses worldwide to harness the speed and efficiency of blockchain technology. Through its advanced infrastructure, clients can effortlessly transfer money across borders, even after market hours. The platform also enables the tokenization of assets and facilitates the seamless exchange and validation of financial data.
As part of the rebranding, J.P. Morgan has also renamed its key business units to align with the Kinexys brand:
This restructuring provides greater clarity and reinforces the platform's comprehensive suite of blockchain-based solutions.
J.P. Morgan has outlined its vision for the future of Kinexys, with plans to introduce foreign exchange (FX) capabilities to Kinexys Digital Payments. Additionally, a proof-of-concept (POC) from Kinexys Digital Assets and Kinexys Labs showcases advancements in on-chain privacy, identity, and composability. These developments highlight J.P. Morgan's commitment to continuous innovation and its focus on addressing key challenges in the blockchain space.
The rebranding of Onyx as Kinexys marks a significant milestone in J.P. Morgan's journey to revolutionize wholesale payments through blockchain technology. With its impressive track record, global reach, and ambitious roadmap, Kinexys is poised to shape the future of finance and drive greater efficiency and connectivity in the financial world.
Learn more: https://www.jpmorgan.com/kinexys/about
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