J.P. Morgan's Kinexys blockchain has crossed $4 trillion in cumulative transactions and added five Asia-Pacific currencies, extending 24/7 settlement to the region's largest trade corridors.
The bank added the Australian dollar, Hong Kong dollar, Japanese yen, Chinese renminbi and Singapore dollar to its Blockchain Deposit Account network on Monday, bringing the total to eight currencies alongside the existing U.S. dollar, euro and British pound, according to CoinDesk. J.P. Morgan says Kinexys has processed more than $4 trillion in transactions since launch, with average daily volume exceeding $7 billion.
Kinexys uses a permissioned blockchain to settle transfers between institutional clients around the clock. Clients hold deposits at J.P. Morgan that are represented digitally on-chain, allowing near-instant settlement without leaving the bank's regulated infrastructure. The model is designed to remove the timezone constraints and correspondent-banking queues that slow conventional cross-border payments.
J.P. Morgan also offers JPM Coin, a deposit token issued on Base, Coinbase's Ethereum Layer 2, for clients that want settlement on a public chain alongside the private permissioned network.
