JPMorgan’s Kinexys Goes Live with Marex in Landmark Blockchain Deal

According to Marex’s official press release, the company is the first clearing firm to integrate Kinexys Digital Payments’ blockchain deposit accounts into its operations. The initiative is intended to streamline processes through always-on, programmable blockchain infrastructure, significantly reducing settlement risk and lowering time and cost burdens for clients.

Terry Hollingsworth, Global Head of Futures & OTC Clearing Sales at Marex, emphasised the innovation, stating: “Kinexys by J.P. Morgan is the next generation of financial market infrastructure. By enabling programmable payment and settlement, the platform leverages automation to unlock asset utility and reduce risk. As a firm with innovation and client service at our core, we are proud to collaborate with Brevan Howard Digital on this forward-looking initiative, bringing greater operational efficiency to our clients as well as the wider market.”

Brevan Howard Digital, a firm that joined the Kinexys network in 2024, is playing a central role in facilitating the project's ecosystem development. Adam Gibbons, COO of Brevan Howard Digital, added: “This is yet another tangible example of how blockchain technology can drive efficiency gains and strengthen risk management controls. At Brevan Howard Digital, we remain at the forefront of adopting innovative digital solutions to help deliver the best possible outcomes for our clients. Our collaboration with the teams at both of these organisations is a clear demonstration of that commitment.”

Meanwhile, Akshika Gupta, Global Head of Client Solutions at Kinexys by JPMorgan, characterised the initiative as “a significant milestone in the advancement of financial market infrastructure,” with Marex and Brevan Howard Digital “utilizing the growing Kinexys Digital Payments network to make seamless, 24/7 settlements.”

Kinexys, formerly known as JPM Coin and part of JPMorgan’s rebranded Onyx unit, is the bank’s flagship blockchain-powered payments and settlement architecture. It provides a network of blockchain deposit accounts that enable programmable, real-time, multicurrency payments, operating continuously beyond traditional market hours.

The platform has already moved over $1.5 trillion in transaction volume since its inception, averaging more than $2 billion in daily transactions, and demonstrating 10× year-over-year growth in payments activity.

Kinexys innovations include timely enhancements such as instant FX settlement (initially dollar-euro, with more currencies planned), programmable automation, and integrations with broader financial infrastructure for increased utility and efficiency.

Marex’s adoption of Kinexys signals a tangible shift in how institutional clearing firms view blockchain, not merely as experimental tech, but as a practical infrastructure for settlement. Reducing friction in clearing, accelerating settlement timelines, and lowering operational risk are critical benefits that can reshape market dynamics.

Marex’s integration of Kinexys reflects its ongoing commitment to innovation and client service, aligning with the firm’s broader strategy of adopting advanced technologies to streamline operations and enhance market efficiency.

Moreover, the collaboration strengthens the broader ecosystem: Kinexys continues to gain momentum as more financial organizations, from clearing houses and banks to asset managers, integrate blockchain into core operations.

Kinexys has seen widespread uptake across regions and institutions. In March 2025, Axis Bank became the first Indian-headquartered bank to roll out 24/7 programmable USD clearing through Kinexys, enabling new treasury efficiencies and cross-border payment capabilities. In May, eight of the largest banks in the Middle East and North Africa (MENA) adopted Kinexys Digital Payments, reshaping multi-currency clearing and settlement infrastructure across that region. Additionally, JPMorgan has executed the first cross-chain, atomic settlement of tokenized U.S. Treasuries using both private and public blockchain networks via Chainlink and Ondo Finance, highlighting Kinexys’s evolving role in public–private blockchain interoperability.

Marex’s integration of programmable blockchain infrastructure exemplifies how digital ledger technology is transforming institutional clearing. Early adoption of real‑time settlement, automation, on‑chain foreign exchange, and tokenized assets may pave the way for broader uptake across the financial ecosystem.