J.P. Morgan Taps Marex as Clearing Firm for Settlements on its Blockchain
Main Idea
J.P. Morgan partners with Marex Group Plc and Brevan Howard Digital to enhance programmable blockchain infrastructure and payment systems, leveraging traditional finance security and automation.
Key Points
1. J.P. Morgan collaborates with Marex Group Plc and Brevan Howard Digital (BHD) to develop a programmable blockchain infrastructure for payments.
2. The Kinexys Digital Payments system aims to reduce risk and improve efficiency through automation and programmable payment solutions.
3. J.P. Morgan has been active in blockchain since 2016, launching Ethereum-based Quorum and JPM Coin, with Onyx (now Kinexys) handling $2 billion daily transactions.
4. J.P. Morgan introduced JPMD, a new coin for crypto-backed loans, signaling further expansion into blockchain-based financial services.
5. The partnership combines traditional finance (TradFi) security with blockchain innovation to streamline institutional payments and settlements.
Description
The largest bank in the United States continues its stride into DeFi innovation with TradFi roots, marking a partnership with two financial institutions. Improving Solid Foundations Marex Group Plc, a publicly traded financial services company listed on the NASDAQ (MRX), made an announcement last week regarding a collaboration with Brevan Howard Digital (BHD), a digital asset management division, to leverage J.P. Morgan’s Kinexys Digital Payments system for reduced risk and more efficient paymen...
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