JPMorgan Chase is accelerating its on-chain finance push through Kinexys, the bank’s blockchain unit led by co-heads Kara Kennedy and Naveen Mallea. Kinexys handles over $5 billion in daily transactions, a fraction of JPMorgan Payments’ roughly $10 trillion daily volume, underscoring sizable yet growing appetite for tokenization in mainstream banking. Industry observers note that demand for digital assets and crypto insights is rising, with about 65% of large bank clients seeking information on crypto and tokens.
JPMorgan Chase is tokenizing real-world assets such as loans and securities to speed up lending using on-chain collateral. Its JPM Coin, now rebranded JPMD (JPMorgan Deposit), is live on the Base public blockchain, expanding access beyond private networks and enabling multi-currency settlements for approved institutional clients. The solution is permissioned to satisfy KYC and AML requirements, with early use cases focused on intercompany payments and real-time clearing. The bank also plans programmable payments that auto-execute when specific conditions are met, and has cited Trimont’s real estate loan deals that have moved from days to near-instant completion.
In late December, JPMorgan Chase launched the Onchain Net Yield Fund on Ethereum, allowing investors to earn USD yields on public chains, alongside MONY, a private fund on Morgan Money. Executives say these moves demonstrate the bank’s intent to operate actively on public blockchains while maintaining guardrails. Experts highlight interoperability and cross-institution collaboration as essential to reducing silos and expanding the reach of tokenized deposits. Analysts expect digital assets to become central to finance by 2026, with JPMorgan leading pilots that attract more banks to shared, tokenized networks.
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