FedEx Embraces Blockchain Technology for Payment Solutions in Collaboration with JP Morgan
In a significant shift towards blockchain-enabled payment systems, several major non-financial corporations have adopted Kinexys Digital Payments, the innovative blockchain-based payment infrastructure developed by JPMorgan.
One of the latest adopters is FedEx, a global logistics giant, which has paired Kinexys with JP Morgan’s notional pooling feature to optimize liquidity management across its global subsidiaries [1][2]. This arrangement allows various divisions of the company to share surplus funds or cover shortfalls without physically moving cash between accounts, enhancing internal capital efficiency.
The deployment of Kinexys by FedEx suggests that blockchain-enabled payment systems may soon become a practical component of enterprise finance. The system operates independent of traditional banking hours, providing around-the-clock availability and programmable payment capabilities for corporate treasury teams.
Siemens, a multinational conglomerate in the industrial sector, was the first non-financial enterprise to publicly adopt Kinexys, previously branded as JPM Coin, starting in 2021 [1][2]. Siemens notably pioneered the use of programmable payments with the platform, showing early corporate interest from the industrial sector.
Another corporation that has embraced Kinexys is Deluxe, a payments and data company, which acquired CheckMatch from Kinexys by JPMorgan, a service that digitizes delivery of paper checks, integrating it into Deluxe Payment Network for faster check payments and reduced mail fraud [5].
While many of Kinexys’ publicly disclosed clients come from financial services, these examples illustrate growing adoption in non-financial sectors, particularly by large multinational corporations in logistics, industry, and payments processing.
In the financial services sector, Marex (a global financial services platform) has become the first clearing firm to integrate Kinexys with help from Brevan Howard Digital, highlighting Kinexys’ role in modernizing payment infrastructure and enabling 24/7 blockchain settlements [3][4].
As more corporations adopt Kinexys, it could become more widespread among global organizations seeking operational resilience and real-time financial visibility. The platform supports multiple major currencies, including U.S. dollars, euros, and British pounds, making it an attractive solution for multinational corporations.
However, JP Morgan has yet to reveal a comprehensive list of participants using Kinexys, suggesting that the platform remains relatively exclusive for now. Despite this, the growing interest among multinational firms in adopting blockchain-backed solutions for treasury operations could lead to more widespread adoption of Kinexys and similar blockchain-enabled payment systems in enterprise finance.
References:
- JP Morgan’s Kinexys: A Blockchain-Based Payment Infrastructure for Corporate Treasury Teams
- FedEx Joins JPMorgan’s Kinexys Blockchain Payment Network
- Marex Becomes First Clearing Firm to Integrate JPMorgan’s Kinexys
- Marex Integrates JPMorgan’s Kinexys for 24/7 Blockchain Settlements
- Deluxe Acquires CheckMatch from Kinexys by JPMorgan
- The deployment of Kinexys by Deluxe, a payments and data company, and FedEx indicates that blockchain-enabled payment systems could be increasingly used in the business sector, particularly by large enterprises involved in payments processing.
- The adoption of Kinexys by Siemens, a multinational conglomerate in the industrial sector, and Marex, a global financial services platform, suggests that this technology could soon become a practical component of enterprise finance and business operations, providing real-time financial visibility and enabling 24/7 settlements.
