PANews reported on November 7 that according to CoinDesk, JPMorgan Chase renamed its blockchain platform Onyx to Kinexys, aiming to strengthen its business layout in the field of blockchain and asset tokenization. Kinexys plans to introduce on-chain foreign exchange settlement functions in the first quarter of 2025, and will first support 24/7 automated multi-currency clearing and settlement services for US dollars and euros, and will expand to other currencies in the future.

JPMorgan Chase's innovation in the blockchain field began in 2020. Since its establishment, it has processed more than $1.5 trillion in transactions through the platform, including overnight repurchases and cross-border payments. The platform's users include global companies such as Siemens, BlackRock and Ant International. Umar Farooq, co-head of JPMorgan Chase, said that Kinexys will connect different systems through multi-chain interoperability to break through the limitations of traditional financial infrastructure and accelerate the application of blockchain and tokenization technology in mainstream financial services.