In brief
Marex, a clearing firm, has partnered with hedge fund Brevan Howard Digital to become the first user of JPMorgan’s Kinexys blockchain platform for client settlements. The collaboration enables 24/7 payments using blockchain-based deposit accounts.
This initiative underscores growing institutional interest in real-time settlement infrastructure leveraging blockchain technology. Payments processed via Kinexys achieve instant settlement, reducing risk, and time while maintaining security comparable to traditional rails.
Expert Perspective
Peter Chung (Presto Labs) views the integration as proof that traditional finance firms are experimenting with blockchain to upgrade legacy settlement systems, despite likely limited immediate ROI. He warns that early adoption and expertise will be crucial to avoid obsolescence.
Launched in 2019 as JPM Coin and rebranded Kinexys in 2024, the platform (permissioned ledger) offers secure, 24/7 settlement within a closed ecosystem connecting only approved financial institutions and clients. Commentators note it addresses challenges in liquidity and efficiency.
Context & Broader Strategy
JPMorgan’s digital asset strategy is accelerating, from tokenized Treasuries transactions in May to integrating Coinbase crypto purchases for Chase cardholders (this fall) and considering USDC rewards points (2026). CEO Dimon supports stablecoins as medium-of-exchange alternatives but remains skeptical of Bitcoin.
