Catenaa, Tuesday, April 15, 2025-JPMorgan blockchain division, Kinexys, launched real-time British pound blockchain payment services Monday, extending its 24/7 cross-border transaction capabilities to include GBP alongside euro and dollar offerings.
The move allows corporate clients to make round-the-clock payments in pounds through blockchain-based deposit accounts. Key early users include the London Stock Exchange Group’s SwapAgent and global commodities giant Trafigura.
“This is one of the first blockchain offerings of its kind in the UK and the first to have clients actually live, opening GBP blockchain accounts in London,” a JPMorgan spokesperson said.
Clients can now settle in GBP with weekend processing and faster same-day foreign exchange settlement. The accounts aim to increase transaction efficiency and liquidity access, while offering programmable payment capabilities to automate treasury functions.
SwapAgent will integrate the GBP blockchain accounts into a pilot of its digital settlement system, enabling post-trade processes beyond traditional banking hours. Trafigura, meanwhile, plans to use the service for real-time payments across London, New York and Singapore, along with future adoption of programmable payment tools.
Since its inception in 2019, Kinexys — formerly Onyx — has handled more than $1.5 trillion in blockchain transactions, with daily volumes averaging over $2 billion. While that’s a fraction of JPMorgan’s $10 trillion daily transaction total, the bank sees significant growth potential in the programmable finance space.
The expansion marks a strategic step in digitizing global treasury infrastructure and reaffirms JPMorgan’s position at the forefront of institutional blockchain innovation.
