Morgan blockchain platform Kinexys deposit account adds Hong Kong dollars and Chinese yuan

JPMorgan’s blockchain business unit Kinexys has expanded its global blockchain deposit account (BDA) network by adding Hong Kong Dollar- and Chinese Yuan-denominated accounts.

Currently, Kinexys’ blockchain deposit accounts support Hong Kong Dollar, Chinese Yuan, Euro, British Pound, US Dollar, and Australian Dollar, enabling 24/7 (around-the-clock) payments, on-chain foreign exchange, and programmable treasury functions, covering all major markets.

Financial institutions and multinational corporations can transfer funds and conduct on-chain foreign exchange transactions between these two new currencies and the existing Euro, British Pound, US Dollar, and Australian Dollar. This expansion extends the settlement window beyond traditional market settlement times and improves liquidity efficiency for global operations.

Zack Chestnut, Head of Global Business at Kinexys, said that it is building the blockchain infrastructure enterprises need to modernize treasury management to keep pace with today’s ever-changing and dynamic global markets. Adding the new Asia-Pacific currencies to the Kinexys blockchain deposit account network demonstrates its commitment to blockchain business.

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