JPMorgan Expands Kinexys Blockchain Settlement To Eight Currencies

JPMorgan has expanded Kinexys to support five APAC currencies, widening its bank-led blockchain settlement network for institutional clients across Asia-Pacific.

The new Blockchain Deposit Account currencies are the Australian dollar, Hong Kong dollar, Japanese yen, Chinese renminbi and Singapore dollar. They join the U.S. dollar, euro and British pound, bringing Kinexys currency support to eight.

Kinexys is built for 24/7 institutional money movement, programmable payments and near-real-time settlement. The expansion gives corporate and financial-institution clients more ways to manage cross-border liquidity outside normal banking cutoffs, especially across APAC markets where time zones and settlement windows often create treasury friction.

The platform has processed more than $4 trillion since launch, with average daily transaction volume around $7 billion. The currency expansion moves Kinexys further from a single-bank experiment and closer to production infrastructure for treasury teams that need faster internal transfers, FX-linked movement and round-the-clock settlement.

JERA Uses JPY Account For Liquidity Management

JERA Global Markets became the first client to use the Japanese yen Blockchain Deposit Account. The energy trading company is using the JPY account for cash flow and liquidity management, giving the new currency set an immediate institutional use case.

The structure is based on tokenized commercial bank deposits, not a public stablecoin. Client deposits remain at JPMorgan while balances are represented on the bank’s blockchain infrastructure for transfer and settlement between approved institutional participants.

That distinction matters for banks competing with stablecoin rails. Tokenized deposits preserve the legal and credit structure of bank money, while adding blockchain-style speed, programmability and operating-hour flexibility. A planned tokenized deposit network backed by major U.S. banks shows the same direction: banks want faster settlement without moving liquidity into non-bank stablecoin issuers.

Kinexys already had live cross-border settlement relevance before the APAC expansion. Ondo, Ripple, Mastercard and JPMorgan previously connected XRP Ledger to bank rails in a tokenized Treasury redemption pilot, linking onchain asset movement with traditional dollar settlement infrastructure.

Bank Money Pushes Deeper Into 24/7 Settlement

The eight-currency expansion strengthens JPMorgan’s position in the race to modernize institutional payments. Stablecoins have already proven that digital dollars can move around the clock, but banks are now building deposit-based alternatives that keep settlement inside regulated balance-sheet money.

That competition is moving across payment networks, tokenized funds and institutional platforms. Mastercard’s stablecoin settlement push showed how card networks are also moving toward always-on settlement rails, while banks are using tokenized deposits to defend their role in corporate treasury and cross-border payments.

For institutions, the main value is operational. More supported currencies mean fewer idle balances, fewer cut-off constraints and faster movement across treasury hubs. Programmable settlement can also help automate internal funding, collateral movement, invoice settlement and FX-linked workflows.