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Kinexys (JPM Coin)

Plain definition. Kinexys by J.P. Morgan is J.P. Morgan’s blockchain infrastructure, on which fiat settlement execution was initiated in the first near real-time cross-border, cross-bank redemption of a tokenized U.S. Treasury fund, whose successful completion Ondo Finance announced on May 6, 2026.

Technical definition. On May 6, 2026, Ondo Finance announced the successful completion of the first near real-time cross-border, cross-bank redemption of a tokenized U.S. Treasury fund, in which fiat settlement execution was initiated on Kinexys by J.P. Morgan’s blockchain infrastructure after the Mastercard Multi-Token Network routed Ondo’s payout instruction to Kinexys. Kinexys debited Ondo’s Blockchain Deposit Account and settled U.S. dollar proceeds to Ripple’s bank account in Singapore through its correspondent banking network. The same infrastructure also passed the instruction on to J.P. Morgan’s correspondent banking network for cross-border delivery of the funds.

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On this site, Kinexys (JPM Coin) comes up in How big is tokenized repo and collateral movement on other platforms, and where does the XRP Ledger stand?, What was the JPMorgan, Mastercard and Ondo tokenized Treasury redemption on XRPL?, How do Ripple/XRP, Stellar, Circle, JPMorgan, Swift, Ethereum and Solana compare?, What are tokenized bank deposits, and how do they differ from stablecoins and XRP? and Is JPMorgan’s JPM Coin or Kinexys a competitor to XRP?.

Source

Ondo, Kinexys by J.P. Morgan, Mastercard, and Ripple Complete First Cross-Border, Cross-Bank Redemption of Tokenized U.S (prnewswire.com), read October 1, 2026.

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