The Kinexys Blockchain Platform: the Future of Tokenization from JPMorgan

One of the largest banks in the U.S., JPMorgan, has announced a rebranding of its blockchain platform Onyx, which will now be called Kinexys. The main reason for the change is the preparation for the launch of a new payment infrastructure. The bank notes significant growth in the platform’s popularity: in the past year, the volume of payment transactions increased by 1000%, and since its creation, the blockchain platform has processed transactions worth over $1.5 trillion, including international transfers and intraday repo deals.

A New Name – A New Concept

The name Kinexys was chosen with a nod to the word «kinetic,» which reflects the idea of moving money, assets, and financial data. The platform’s leadership emphasized that the next stage of its development will focus on:

• Increasing privacy on the blockchain;
• Improving data identification;
• Simplifying access to working capital;
• Reducing transaction costs for users.

The platform’s clients already include international companies such as Siemens, BlackRock, and Ant International, highlighting its demand in the financial sector.

Blockchain Without Cryptocurrencies

Despite criticism of cryptocurrencies from JPMorgan Chase’s CEO Jamie Dimon, who called Bitcoin a financial pyramid, the bank is actively developing blockchain and decentralized finance (DeFi) technologies. This underscores its commitment to using innovations to improve the exchange of data and assets among major market players.