According to CoinDesk, JPMorgan Chase has announced that it is renaming its Onyx division, which focuses on tokenization and blockchain, to Kinexys. The bank plans to launch on-chain foreign exchange capabilities as early as the first quarter of 2025, enabling 24/7 automated multi-currency settlement.
JPMorgan Chase's blockchain settlement technology JPM Coin has also been renamed to Kinexys Digital Payments, with current users including Siemens, BlackRock, and Ant International, among other global enterprises. JPMorgan Chase stated that as transaction volumes grow, client adoption increases, and products expand, the company is prepared to accelerate the application of blockchain and tokenization in mainstream financial services. The new on-chain foreign exchange capabilities will initially support the US dollar and Euro, with plans to expand to other currencies in the future.
