JPMorgan has expanded its blockchain-based payments offerings with the launch of British Pound (GBP)-denominated blockchain deposit accounts through its digital payments division Kinexys (formerly Onyx). JPMorgan Expands Blockchain Payments With GBP Accounts Through Kinexys The move expands the bank’s real-time payments capabilities beyond its current euro (EUR) and US dollar (USD) offerings, positioning Kinexys as a major player in the blockchain-enabled corporate finance space. In a statement shared today, JPMorgan said the new service allows clients to conduct cross-border transactions 24/7 with on-demand access to funds, weekend processing and same-day foreign exchange (FX) settlements. These features aim to increase efficiency, flexibility and speed for global businesses. “New GBP-denominated blockchain accounts enable customers to conduct seamless cross-border transactions, including 24/7 currency exchange,” JPMorgan said. With the launch of GBP, JPMorgan clients will now be able to move money between GBP, EUR and USD instantly and around the clock, removing the constraints of traditional banking hours. London Stock Exchange Group’s SwapAgent and global commodities trading giant Trafigura were the first clients to adopt the new accounts. SwapAgent is incorporating blockchain deposit accounts into a pilot for digital post-trade reconciliation services. “Integrating Kinexys’ innovative digital payments into SwapAgent can enable us to operate beyond traditional branch closing hours,” said Nathan Ondyak, CEO of SwapAgent. Trafigura will use GBP blockchain accounts to facilitate real-time payments between global hubs in London, New York and Singapore. *This is not investment advice. Continue Reading: Investment Giant JPMorgan Announces It Will Allow Opening Blockchain Deposit Accounts in This Currency! Here Are the Details
