JPMorgan's Onyx division, focused on tokenization and blockchain, has been renamed Kinexys

According to ChainCatcher news reported by CoinDesk, JPMorgan Chase has announced the renaming of its Onyx division, which focuses on tokenization and blockchain, to Kinexys. The bank plans to launch on-chain foreign exchange capabilities as early as the first quarter of 2025, enabling 24/7 automated multi-currency settlements.

JPMorgan's JPM Coin blockchain settlement technology has also been renamed to Kinexys Digital Payments. Users of the platform include global companies such as Siemens, BlackRock, and Ant International.

JPMorgan stated that with the increase in transaction volume, higher customer adoption rates, and product expansion, they are ready to accelerate the application of blockchain technology and tokenization in mainstream financial services. The new on-chain foreign exchange feature will initially support USD and EUR, with plans to expand to other currencies in the future.