Clearing Firm Marex Launches 24/7 Settlements via JPMorgan Blockchain

Marex became the first clearing firm to adopt JPMorgan’s Kinexys blockchain platform for client settlements. The London-based financial services company announced Wednesday it will partner with hedge fund Brevan Howard Digital to process payments 24 hours a day.

The partnership allows Marex to open blockchain-based deposit accounts on Kinexys Digital Payments. Clients can now make instant, programmable settlements at any time, including weekends and holidays when traditional banking systems are closed.

The new system aims to reduce settlement risk, speed up transaction times, and cut costs compared to conventional payment rails. Marex will maintain the same security standards as traditional settlement methods.

Kinexys operates on a permissioned ledger, which means only approved participants can validate transactions and access data. The closed ecosystem includes Marex, Brevan Howard Digital, and selected liquidity providers. This structure enables secure, conditional payments but prevents integration with external blockchain platforms.

JPMorgan launched the platform as JPM Coin in 2019. The bank later rebranded it to Onyx before adopting the Kinexys name in 2024. The platform represents JPMorgan’s push into programmable, real-time settlement infrastructure.

JPMorgan has expanded its blockchain activities in recent months. In May, the bank completed its first public blockchain transaction using tokenized U.S. Treasuries. The bank also plans to let Chase cardholders buy cryptocurrency on Coinbase this fall. Starting in 2026, customers will be able to redeem reward points for USDC.

JPMorgan CEO Jamie Dimon has shifted his position on digital assets over time. He now recognizes certain capabilities of digital currencies, particularly pointing to unique features of dollar-backed tokens. However, Dimon continues to express skepticism about Bitcoin specifically.