JPMorgan Chase renames its blockchain platform Onyx to Kinexys and adds on-chain foreign exchange settlement for US dollars and euros

PANews reported on November 7 that according to CoinDesk, JPMorgan Chase has renamed its blockchain platform Onyx to Kinexys, aiming to strengthen its business layout in the field of blockchain and asset tokenization. Kinexys plans to introduce on-chain foreign exchange settlement functionality in the first quarter of 2025, initially supporting 24/7 automated multi-currency clearing and settlement services for the US dollar and Euro, and will expand to other currencies in the future. JPMorgan Chase's innovation in the blockchain field began in 2020, and since its inception, the platform has processed over $1.5 trillion in transactions, including overnight repurchases and cross-border payments. The platform's users include global companies such as Siemens, BlackRock, and Ant International. Umar Farooq, co-head of JPMorgan Chase, stated that Kinexys will connect different systems through multi-chain interoperability to break through the limitations of traditional financial infrastructure and accelerate the application of blockchain and tokenization technologies in mainstream financial services.