🇬🇧 JPMorgan Launches Blockchain Payments in British Pounds (GBP).

JP Morgan has launched a blockchain payment service in British Pounds (GBP) via its Kinexys Digital Payments platform, formerly known as Onyx.

This move allows corporate clients to make instant transfers 24/7, enhancing efficiency in cross-border payments and foreign exchange settlement. Since its launch, the platform has processed transactions worth over $1.5 trillion, with a daily average of around $2 billion. Early clients in London, such as LSEG's SwapAgent and Trafigura, have already begun using the service to improve liquidity management and settlements.

The platform demonstrates JPMorgan's commitment to integrating blockchain technology into traditional financial services, but the question remains: will this technology be able to balance costs and revenues in the long term, especially with increasing competition in this space?