J.P. Morgan's Kinexys unit expands fund flow and digital asset services

J.P. Morgan's blockchain-focused Kinexys business unit has achieved several milestones, including making its USD-denominated deposit token, JPM Coin (JPMD), available to institutional clients on the Base Ethereum Layer 2 blockchain. This move brings institutional finance on-chain, marking a step in the evolution of digital money.

The unit also launched Kinexys Fund Flow, a new solution that collects and records investor register and transactional data on the Kinexys Digital Assets private blockchain network. Initial transactions for this service were conducted with J.P. Morgan Private Bank, J.P. Morgan Asset Management, and Citco.

Kinexys Digital Payments has expanded its reach through partnerships with BMW Group, FirstRand Bank, and Mitsubishi Corporation for programmable payments, and with B2C2 and Siemens for on-chain FX blockchain payments. The business unit also received Gold in the Banking Category at The Money Awards.

Oliver Harris has joined as the Head of Kinexys, focusing on commercialization and client engagement. Kara Kennedy will serve as Global Head of Market Development, reporting to Harris. Harris previously led Digital Assets, Americas at Goldman Sachs.