JPMorgan's Kinexys Platform Enables Marex and Brevan Howard Digital to Perform Instant Payments with Digital Deposits.
Marex Group plc has announced payment support through collaboration with Brevan Howard Digital – the digital asset division of European hedge fund management company Brevan Howard – via Kinexys, the blockchain platform of JPMorgan. This initiative enables 24/7 transactions, eliminates typical delays in traditional payment systems, and marks the first time a clearing payment company has integrated JPMorgan's blockchain solution.
Within the collaboration, Marex has begun using digital deposit tokens from the Kinexys Digital Payments system, based on JPMorgan's Kinexys blockchain platform. This solution allows real-time, programmable payments, even on weekends and outside banking hours.
Marex becomes the first clearing payment company to integrate JPMorgan's blockchain solution into operations, opening an important precedent for blockchain technology adoption in traditional financial infrastructure. This move demonstrates the increasing acceptance of Distributed Ledger technology by major financial institutions.
Operational Efficiency and Risk Reduction
Terry Hollingsworth, Global Head of Futures & OTC Clearing Sales at Marex, stated that this new payment model enables automatic chain-style payments and reduces credit and operational risks. The ability to automate complex payment processes helps optimize efficiency and minimize human errors.
Adam Gibbons, COO at Brevan Howard Digital, emphasized that using Kinexys allows real-time position payments with minimal dependence on bank liquidation hours. This is particularly important in a digital asset market operating continuously, unrestricted by traditional working hours.
The Kinexys platform currently processes over $1 billion in corporate payment transactions monthly, demonstrating the system's scale and reliability. At this stage, Marex and Brevan Howard Digital will use the solution for digital asset and Derivative payments, with plans to expand to fiat currency and other liquidation assets under T+0 mode in the future.
This collaboration occurs as JPMorgan has tested Kinexys for cross-chain payment transactions with encoded assets and enhanced B2B cross-border payment efficiency. Previous deployment experiences reveal the widespread application potential of this technology.
