JP Morgan has rebranded its blockchain platform from Onyx to Kinexys, readying to launch on-chain foreign exchange services aimed at its growing global clientele. Originally launched as JPM Coin in 2019, the platform witnessed a remarkable 1,000% year-over-year growth in payment transactions. Kinexys, a name stemming from 'kinetic', signifies the movement of money and assets worldwide. The upgraded platform promises features such as on-chain privacy, identity tools, and enhanced composability, enabling clients to conduct money transfers internationally around the clock, tokenize assets, and streamline financial data validation. Processing about $2 billion in daily transaction volumes and managing $1.5 trillion in underlying derivative assets, Kinexys positions JP Morgan amongst other major banks like Goldman Sachs that are integrating blockchain technology into their services.

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