JPMorgan and DBS Launch Cross-Blockchain Payment System
JPMorgan and DBS are developing a new system for tokenized deposits. This system enables transfers across both banks’ blockchain networks. It aims to offer real-time, 24/7 cross-border payments for institutional clients.
The system connects JPMorgan’s Kinexys Digital Payments platform with DBS Token Services. It supports tokenized deposits on public and private blockchains. DBS said clients will benefit from round-the-clock payment availability.
With this system, clients can instantly exchange or redeem tokenized deposits. It aims to set a new standard for blockchain interoperability between banks.
Industry Leaders Promote Tokenized Finance
Rachel Chew, Group COO at DBS, said the system adds agility and speed in global payments. She emphasized the importance of making different blockchain systems compatible to avoid issues.
JPMorgan began testing its Kinexys Fund Flow platform in late October 2025. The full launch is planned for 2026. JPMorgan also intends to tokenize other assets such as private loans and real estate. Both banks previously supported Patrior, a blockchain payment platform that raised $60 million in 2024.
Global Adoption and Future Benefits
The collaboration enables instant cross-border payments between the two banks, which were previously limited to their own systems. Naveen Mallela, Global Co-Head of Kinexys, highlighted the partnership as a model for enhancing tokenized deposits while ensuring interoperability.
A 2024 Bank for International Settlements survey found about one-third of commercial banks are exploring tokenized deposits. Major institutions like UBS, PostFinance, Sygnum, BNY Mellon, Barclays, HSBC, and Lloyds are testing similar solutions.
This project could speed up global payments and reduce costs. It may also improve payroll, trade, and treasury operations for businesses. The banks have not announced the full system’s release date but will begin testing with selected clients soon.
Read the official press release for more details.
