JPMorgan’s Kinexys Launches Blockchain-Based GBP Accounts in UK and Cross-Border Payments
JPMorgan’s blockchain division, Kinexys (formerly Onyx), has launched British pound-denominated blockchain deposit accounts in the U.K., marking a significant step forward in the bank’s real-time settlement infrastructure.
The new offering allows corporate clients to conduct seamless cross-border payments in GBP alongside existing euro and dollar services — 24/7 and in real time.
“The new GBP-denominated blockchain accounts enable clients to conduct seamless cross-border transactions, including 24/7 foreign exchange,” the company said in a statement on Monday. “Clients can access funds on demand with weekend processing and extended same-day FX settlements, offering enhanced flexibility, speed and efficiency.”
Global Clients Tap Into 24/7 Liquidity
With this launch, JPMorgan clients can now move funds between pounds, euros, and dollars around the clock, sidestepping traditional market hours and banking holidays.
Initial participants include the London Stock Exchange Group’s (LSEG) SwapAgent and commodities giant Trafigura, who are among the first to open GBP-denominated blockchain accounts via Kinexys.
Scaling Real-Time Settlement
Since its launch in 2019, Kinexys has quietly grown into one of the largest institutional blockchain settlement platforms in traditional finance. JPMorgan reported that Kinexys has now processed more than $1.5 trillion in transaction volume, with average daily volumes exceeding $2 billion.
That figure remains a small fraction of the $10 trillion in daily payments handled by JPMorgan’s broader treasury services — but its tenfold year-over-year growth suggests adoption is accelerating.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a "detective-like" mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
