Token

2024

JPMorgan

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 <p><strong>Key Highlights</strong></p>
 <ul>
  <li>JPMorgan and DBS are creating a system to move tokenized deposits across blockchains.</li>
  <li>The system will allow real-time, 24/7 cross-border payments for institutional clients.</li>
  <li>The project will set a new standard for interoperability between public and private blockchains.</li>
 </ul>
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<p>JPMorgan and DBS are working together to create a new system for digital banking that allows tokenized deposits to work across both of their blockchain networks. This development will allow clients to send money faster and around the clock.</p>
<p>The system links JPMorgan’s Kinexys Digital Payments platform with DBS Token Services. It will allow institutional clients to move tokenized deposits between the two banks easily. Payments can happen on both public and private blockchains. DBS said it would give clients “round-the-clock availability,” so money can move at any time.</p>
<p>With this system, clients can exchange or redeem tokenized deposits instantly. They can also make cross-border payments in real time. The banks hope this will become a new standard for payments between banks.</p>
<h2 class="wp-block-heading" id="banks-lead-the-way-in-tokenized-finance">Banks lead the way in tokenized finance</h2>
<p>“Instant 24/7 payments provide businesses with the optionality, agility and speed to navigate global uncertainties and capture emerging opportunities.” Rachel Chew, Group COO at DBS, said in the <a href="https://www.dbs.com/newsroom/DBS_and_Kinexys_by_JP_Morgan_to_develop_framework_for_interbank_tokenised_deposit_transfers_across_multiple_blockchains" target="_blank" rel="noopener noreferrer nofollow">press release</a>. She added that making different systems work together is important to avoid problems when moving tokenized money across borders.</p>
<p>JPMorgan started testing its Kinexys Fund Flow platform in late October 2025. The full platform will launch in 2026. The bank also plans to turn other assets, like private loans and real estate, into tokens. Both banks previously supported Patrior, a blockchain payment platform that raised $60 million in 2024.</p>
<h2 class="wp-block-heading" id="global-trend-and-future-impact">Global trend and future impact</h2>
<p>Currently, both banks offer instant payments within their own systems. This new collaboration will let clients pay each other across borders.</p>
<p>“Working with DBS on this initiative is a clear example of how financial institutions can collaborate to further the benefits of tokenized deposits for institutional clients while protecting the singleness of money and ensuring interoperability across markets,” said Naveen Mallela, Global Co-Head of Kinexys.&nbsp;</p>
<p>Banks around the world are now interested in tokenized money. About one-third of commercial banks have started or studied tokenized deposits, according to a 2024 survey by the Bank for International Settlements. Major institutions, including UBS, PostFinance, Sygnum, BNY Mellon, Barclays, HSBC, and Lloyds, are also testing similar solutions.</p>
<p>This project could make global payments faster and cheaper. It could also help businesses manage payroll, trade payments, and treasury operations better. The banks have not disclosed when the full system will be available, but testing will start with select clients first.</p>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
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JPMorgan and DBS to Launch 24/7 Cross-Bank Token Payments

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