J.P. Morgan is advancing in the DeFi realm by partnering with Marex Group Plc and Brevan Howard Digital to improve payment efficiency.
Collaboration between Marex and Brevan Howard Digital
Marex Group Plc, a publicly traded financial company on NASDAQ, announced a partnership with Brevan Howard Digital to utilize J.P. Morgan's Kinexys digital payments system. This will enhance client operations and improve payment security using blockchain technology.
J.P. Morgan's History in Cryptocurrencies
Previously, J.P. Morgan was cautious regarding cryptocurrencies. CEO Jamie Dimon has repeatedly criticized Bitcoin, calling it a 'fraud.' However, since 2016, the bank has been developing its own blockchain-based solutions, including the Quorum platform and JPM Coin.
Future and Prospects of the Partnership
With the launch of Kinexys, which is processing billions of dollars in transaction volume, J.P. Morgan and Marex can significantly reduce settlement times and risks, providing clients convenient access to digital assets. This year, the expected launch of JPMD, a new cryptocurrency from J.P. Morgan, could also open additional opportunities in the sector.
The collaboration between J.P. Morgan and Marex Group reflects the growing interest of traditional financial institutions in innovations in digital assets and blockchain.
