JPMorgan's Kinexys platform enables Marex and Brevan Howard Digital to conduct instant payments using digital deposits.
Marex Group plc has announced payment support as part of its collaboration with Brevan Howard Digital – the digital asset arm of European hedge fund manager Brevan Howard – through Kinexys, JPMorgan's blockchain platform. This initiative enables 24/7 trading, eliminating the delays typically seen in traditional payment systems and marks the first time a clearing company has integrated JPMorgan's blockchain solution.
As part of 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 for real-time, programmable payments, including on weekends and outside banking hours.
Marex becomes the first clearing company to integrate JPMorgan's blockchain solution into operations, setting an important precedent for the adoption of blockchain technology in traditional financial infrastructure. This move reflects 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 allows for automated chain 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 the bank's liquidity hours. This is particularly important in the continuously operating digital asset market, which is not constrained by traditional working hours.
The Kinexys platform currently processes over $1 billion in corporate payment transactions each month, demonstrating the scale and reliability of the system. In this phase, Marex and Brevan Howard Digital will use the solution for digital asset and derivative payments, with plans to expand to fiat currency and other liquid assets on a T+0 basis in the future.
This collaboration occurs in the context of JPMorgan testing Kinexys for cross-chain payment transactions with tokenized assets and enhancing cross-border B2B payment efficiency. Previous implementation experience has shown the broad application potential of this technology.
