J.P. Morgan Adds 5 Currencies to Kinexys Blockchain Payments

J.P. Morgan added five currencies to its Kinexys blockchain payments platform, giving institutional clients eight currencies for tokenized settlement and foreign exchange. The Australian dollar, Hong Kong dollar, Japanese yen, Chinese renminbi and Singapore dollar join the U.S. dollar, euro and British pound on the Blockchain Deposit Account network.

The expansion targets a persistent friction in global finance: cross-border payments that clear only during local banking hours, often routing through multiple correspondent banks. Kinexys runs on a permissioned blockchain J.P. Morgan operates, recording and settling transfers between participating clients around the clock. Clients hold deposits at the bank that are represented digitally on the chain, keeping transactions inside regulated banking rails rather than using cryptocurrencies.

Payoneer, the cross-border payments fintech, is the first customer using the Australian dollar service. The company said it will use the platform to improve settlement speed and move funds between markets more efficiently. JERA Global Markets, the trading arm of Japanese energy company JERA, is the first client on the Japanese yen account. Energy traders often need to move large sums quickly across time zones to meet trading obligations, making 24/7 cash access an operational edge.