JPMorgan Kinexys, formerly known as Onyx, has expanded its payment options by introducing round-the-clock blockchain transactions in British pounds.
Improving Operational Efficiency of Kinexys
According to information provided by The Block, clients can now make GBP payments at any time, including weekends. JPMorgan states that this change makes financial transactions more flexible, faster, and efficient. This is especially crucial for global organizations needing smooth cross-border transactions.
Kinexys System and Its Scalability
Kinexys, JPMorgan's private blockchain platform, has evolved since its launch and now positions itself as a leader in blockchain-based financial operations. The platform processes over $2 billion daily and has a total notional value exceeding $1.5 trillion, simplifying liquidity management and reducing risks.
A New Era for Blockchain in Banking
Umar Farooq, JPMorgan's global co-head of payments, envisions a future where blockchain ecosystems interact seamlessly. Kinexys is paving the way for a future where blockchain supports and actively powers banking systems, providing faster, more secure, and cost-effective solutions for businesses and clients worldwide.
The expansion of Kinexys' capabilities in GBP blockchain payments opens new horizons for digital financial services and paves the way for further innovations in banking.
