In a major move for blockchain-powered finance, Kinexys by J.P. Morgan has launched GBP-denominated Blockchain Deposit Accounts at its London branch. This marks a significant expansion of its Kinexys Digital Payments platform into the UK market. The innovation introduces one of the first blockchain-native banking products of its kind in the region. It is designed to facilitate 24/7 real-time payments and cross-border transactions for institutional clients.

SwapAgent, a London Stock Exchange Group Post Trade Solutions business, and Trafigura, a global leader in commodities trading, are the inaugural clients on the platform. The deployment signals a meaningful step in the evolution of blockchain in mainstream banking infrastructure, particularly in foreign exchange (FX) settlement, liquidity management, and programmable finance.

Blockchain delivering Programmable, Round-the-Clock Liquidity

The new offering allows corporate clients to settle GBP-denominated payments anytime, including weekends. And while accessing same-day FX settlements and real-time cross-border capabilities. This follows the platform’s earlier rollout of EUR-denominated blockchain accounts in Frankfurt and continues Kinexys’s push for global digital payment standardization.

SwapAgent will integrate Kinexys accounts into its digital post-trade pilot, with an eye toward broader adoption that could see blockchain accounts become a central part of its settlement architecture.

“As we expand SwapAgent’s settlement capabilities and enhance our digital presence, we’re eager to collaborate with Kinexys by J.P. Morgan”

Nathan Ondyak, CEO, SwapAgent

Trafigura Eyes Transformation in Cross-Border Treasury

Trafigura plans to leverage Kinexys accounts for real-time payments across New York, London, and Singapore, integrating programmable fund movement to streamline treasury operations across its global network.

“We are excited to advance our capabilities… [and] benefit from a transformative financial solution that will streamline our operations and enhance our competitive edge”

Chris McLaughlin, Global Head of Group Treasury, Trafigura

Kinexys: Momentum Behind the Numbers

Since inception, Kinexys has processed more than $1.5 trillion in transactions, with daily volumes exceeding $2 billion and 10x year-over-year growth. Its programmable payments feature, offering a self-serve “if-this-then-that” interface, provides users with automation options that traditional banking infrastructure has struggled to match.

This move cements J.P. Morgan’s blockchain unit as a first mover in institutional-grade digital payments infrastructure in the UK, positioning Kinexys as a major player in the convergence of blockchain, treasury, and cross-border payments.