JPMorgan Chase
Compare JPMorgan Chase…Largest US bank. Kinexys (formerly Onyx) platform tokenizes deposits and intraday repo; JPM Coin handles institutional internal settlement.
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JPMorgan ChaseLargest US bank. Kinexys (formerly Onyx) platform tokenizes deposits and intraday repo; JPM Coin handles institutional internal settlement.
2023-Q4 (Onyx era)-2026-05
| Product | Launch Date | Asset Class | Partner Network | AUM (if disclosed) | |
|---|---|---|---|---|---|
| JPM Coin (internal settlement currency) | 2020 | Cash + USD intraday settlement | JPM private chain | Not separately disclosed (rolls into Kinexys volume) | |
| Onyx Digital Assets (tokenized intraday repo) | 2020-2023 | Tokenized US Treasury repo | JPM private chain | $300B+ cumulative settlement | |
| Tokenized Collateral Network (TCN) | Oct 2023 | Tokenized money market fund shares as collateral | JPM private + BlackRock + Barclays | Initial transactions with BlackRock + Barclays; scaling | |
| Avalanche tokenized money market funds | Nov 2023 | Tokenized MMF shares on Avalanche | JPM + Avalanche + Apollo + others | Bilateral pilot transactions | |
| Provenance Blockchain tokenized private credit (with Apollo) | 2024 | Tokenized private credit fund shares | JPM + Apollo + Provenance | Apollo Diversified Credit Fund pilot | |
| Cross-border payment corridor (UK) | 2024 | GBP-USD cross-border tokenized payments | JPM + Standard Chartered | Live for institutional clients | |
| Cross-border payment corridor (Asia) | 2025 | SGD + JPY cross-border tokenized payments | JPM + Asian partner banks | Live for institutional clients | |
| Kinexys rebrand (formerly Onyx) | Nov 2024 | Brand + platform consolidation | JPM private + multiple public chains | Unifying product taxonomy | |
| Tokenized real-world asset partnerships (multiple) | 2025-2026 | Multi-asset RWA tokenization | JPM + Securitize + Provenance + BlackRock | Multiple bilateral transactions; scaling | |
| Editorial. Why this matters | Strategic context | JPM is the marquee bank in institutional tokenization. The Kinexys platform + JPM Coin + Tokenized Collateral Network constitute the most-mature institutional tokenization stack. Marquee question: as adoption scales + as consumer-adjacent tokenized products emerge + as cross-asset tokenized portfolios mature, does the JPM-led ecosystem cross $100B+ AUM by FY2027 + does JPM become the dominant institutional tokenization infrastructure provider? |
2021-Q1-2025-Q4
2021-2025
$JPM
Kinexys (formerly Onyx) platform tokenizes deposits and intraday repo. JPM Coin is the bank's internal-settlement currency for institutional clients.