J.P. Morgan Expands Blockchain Settlement Network With Five Asia-Pacific Currencies
J.P. Morgan’s Kinexys is a permissioned blockchain payment network for institutional clients, using on-chain bank deposits to support real-time fund transfers, foreign exchange and programmable treasury management. Cross-border payments have traditionally been constrained by correspondent banking processes, time zones and business hours. Broader currency coverage could help companies manage Asia-Pacific liquidity around the clock and reduce settlement risk.
On June 29, 2026, J.P. Morgan said Kinexys had added the Australian dollar, Hong Kong dollar, Japanese yen, Chinese yuan and Singapore dollar, bringing the total number of supported currencies to eight alongside the U.S. dollar, euro and British pound. The platform has processed more than $4 trillion in cumulative transactions and over $7 billion per day on average. Payoneer became the first client to use an Australian-dollar account, while JERA Global Markets was the first to use a yen account for managing intragroup funds.
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The history behind this eventKB Kookmin Bank Taps JPMorgan’s Kinexys for Cross-Border Payments
KB Kookmin Bank, South Korea’s largest commercial bank, is adopting JPMorgan’s blockchain-based Kinexys platform as banks seek faster and more efficient rails for international transactions. The move is particularly significant for South Korea’s trade-dependent economy, where importers and exporters routinely face delays in dollar transfers, foreign-exchange processing and settlement across time zones. Kinexys is designed to reduce those frictions while operating alongside established banking infrastructure.
KB Kookmin plans to launch the U.S. dollar cross-border payment service in August for corporate customers engaged in imports and exports. The initial rollout will support transfers involving 10 countries, including the United States, Singapore and the United Arab Emirates. By linking Kinexys with the SWIFT network, the bank aims to provide near-instant cross-border settlement and foreign-exchange clearing. KB Kookmin has not disclosed expected transaction volumes, payment limits or service fees.
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