Delivery service giant FedEx now implements blockchain-based payment solutions through a partnership with JP Morgan.
In the world of enterprise finance, the adoption of blockchain-powered payment systems is no longer a distant dream. The use of Kinexys, previously known as JPM Coin, by companies like FedEx and Siemens, suggests that this technology could soon become a practical component of treasury operations for multinational firms.
Siemens was the pioneer, adopting Kinexys in 2021 when programmable payments became available. Since then, other notable enterprises have followed suit.
Brevan Howard Digital, the digital assets arm of the asset management firm, has begun using Kinexys for 24/7 instant cross-border payments. Marex, a major non-bank futures commission merchant, is another adopter. Marex is the first clearing firm to utilise Kinexys’ blockchain deposit accounts, streamlining payments and reducing settlement risk. Interestingly, Marex collaborated closely with Brevan Howard Digital on this initiative.
These adoptions show that Kinexys is not limited to traditional financial services. Brevan Howard Digital, while related to asset management, is distinct from traditional banking, demonstrating the platform's versatility.
The deployment of Kinexys by FedEx underscores a growing interest among multinational firms in adopting blockchain-backed solutions for treasury operations. Kinexys offers significant improvements over conventional banking channels, with its speed, transparency, and control being key advantages.
As global organisations seek operational resilience and real-time financial visibility, the adoption of platforms like Kinexys could become more widespread. The future of enterprise finance may well be blockchain-powered, with Kinexys leading the charge.
Science and technology are integral parts of the evolution of Kinexys, as demonstrated by the use of blockchain-powered payment systems in finance and business. The versatility of Kinexys has been showcased by its adoption by asset management firms like Brevan Howard Digital and non-bank futures commission merchants such as Marex.
