Kinexys by J.P. Morgan
The blockchain business J.P. Morgan renamed from Onyx in November 2024, which has processed more than $3tn since its 2015 launch and issues JPMD, a dollar token that is a claim on a bank deposit rather than a share in a reserve pool.
The profile
J.P. Morgan's blockchain business, renamed from Onyx on 6 November 2024 and organised as Kinexys Digital Payments, Kinexys Digital Assets and Kinexys Labs. It combines blockchain deposit accounts on a private permissioned ledger with JPMD, the dollar deposit token made available to institutional clients on Base on 12 November 2025 after a proof of concept with B2C2, Coinbase and Mastercard, and issued natively on the Canton Network. The platform has processed more than $3tn in transactions since its 2015 launch; the bank's own 2026 milestones note put average daily volume above $5bn, while its platform page reported more than $7bn in July 2026, and most of that volume is deposit transfers between JPMorgan accounts on the permissioned ledger rather than public-chain activity. Because a JPMD balance is a claim on a deposit at the bank rather than a share in a reserve pool, the platform extends bank money onto public networks without shifting funding out of the banking system, which is the counter-proposition to reserve-backed stablecoins. Kinexys Fund Flow, launched with J.P. Morgan Private Bank, Asset Management and Citco, settles tokenized deposit money against tokenized fund units.
Products and services
- Kinexys Digital Payments
- Programmable account-to-account transfers on the bank's permissioned ledger, formerly the JPM Coin System, extended to onchain FX settlement in US dollars and euro.
- JPMD
- Dollar deposit token issued for institutional clients on Base, transferable peer-to-peer between EVM-compatible wallets.
- Kinexys Fund Flow
- Tokenized fund subscription and redemption service, first used with J.P. Morgan Private Bank, Asset Management and the administrator Citco.
No development naming Kinexys by J.P. Morgan has yet been filed against a primary source. The register entry stands so the institution, its jurisdiction and its products are on the record.