JPMorgan Renames Blockchain Platform And Expands Forex Settlement

According to Odaily, JPMorgan has announced the rebranding of its blockchain platform, Onyx, to Kinexys. Alongside the name change, the banking giant is expanding its on-chain foreign exchange settlement capabilities to include the U.S. dollar and euro. As an early leader in integrating blockchain technology into traditional financial activities, JPMorgan has processed over $1.5 trillion in transactions since the platform's inception. The rebranding to Kinexys marks a significant step in JPMorgan's ongoing efforts to enhance its blockchain offerings. By incorporating major currencies like the dollar and euro into its on-chain settlement processes, the bank aims to streamline and modernize cross-border transactions. This move reflects the growing trend among financial institutions to leverage blockchain technology for more efficient and secure financial operations. JPMorgan's commitment to blockchain innovation underscores its role as a pioneer in the financial sector's digital transformation. The bank's extensive experience and substantial transaction volume highlight its capability to drive significant advancements in blockchain applications. As the financial industry continues to evolve, JPMorgan's initiatives with Kinexys are expected to set new standards for blockchain integration in traditional banking.