CMC Markets has begun using blockchain technology to
transfer cash and settle payments instantly through a collaboration with
Kinexys Digital Payments, part of J.P.Morgan’s blockchain business
unit. The system is live following successful testing and allows near real-time
settlement through a network of Blockchain Deposit Accounts.

The move follows J.P.Morgan’s launch of JPMCoin last year, a
blockchain-based deposit token for institutional clients. The token enables
transactions to settle in seconds, 24/7, rather than during traditional banking
hours, and is issued on the public blockchain Base via Kinexys infrastructure.

Blockchain Enables Faster Cross-Border Fund Transfers

Lord Peter Cruddas, Founder and CEO of CMC Markets, said the
company is seeing “enhanced capital efficiency and operational flexibility”
from the collaboration.

The solution allows institutions to move funds across
currencies and regions instantly, reducing settlement risk, operational
friction, and costs while maintaining security levels similar to traditional
payment rails. The initiative supports CMC’s strategy to enhance its global
technology infrastructure and improve capital efficiency across international
operations.

Zack Chestnut, Global Head of Business Development for
Kinexys Digital Payments, said the team is working with clients to “unlock the
power of 24/7/365 on chain settlement and programmable payments.”

JPMorgan Bridges Private Network with Public Blockchain

The CMC Markets rollout follows broader Kinexys activity at
JPMorgan. In May last year, the
bank completed its first blockchain transaction connecting private and
public networks. The deal involved tokenized U.S. Treasuries, with funds moved
on Kinexys to settle treasuries listed on a public blockchain run by Ondo
Finance.

Chainlink was used to link the private and public systems. Previously,
JPMorgan’s blockchain work was limited to internal networks, with earlier
trials, such as a 2024 pilot with Siemens, remaining experimental. Tokenized
treasuries are blockchain-based versions of money market funds providing
exposure to government debt.

This article was written by Tareq Sikder at www.financemagnates.com.

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