Latest news with #Kinexys
Yahoo
03-07-2025
- Business
- Yahoo
JPMorgan's Blockchain Arm Kinexys Tests Tokenized Carbon Credits With S&P Global
Global bank JPMorgan's blockchain arm Kinexys is working with S&P Global Commodity Insights to explore tokenization for managing and issuing carbon credits, the firms said on Wednesday. The project, according to a press release, focuses on testing how tokenized carbon credits can be created and tracked using blockchain infrastructure. These credits, which represent greenhouse gas reductions from projects like reforestation or renewable energy, are often bought by companies aiming to offset their emissions. The firms will focus on how blockchain handles credit lifecycle management, data compatibility and registry access. "Our shared aim is to establish standardized infrastructure that enhances information and price transparency, paving the way for financial innovation and increased market liquidity," said Keerthi Moudgal, head of product at Kinexys Digital Assets. The initiative underscores JPMorgan's growing presence in the red-hot tokenization space, a sector that has attracted global banks and asset managers such as BlackRock, HSBC and Citi. Tokenization is the process of using blockchain rails to transact with traditional financial instruments, promising more efficient operations, around-the-clock settlements and increased transparency. JPMorgan has been an early leader operating its own private blockchain network Kinexys, formerly known as Onyx and JPM Coin, which now settles $2 billion in daily transactions, according to the bank. It also piloted last month a deposit token called JPMD on Base, an Ethereum layer-2 network developed by in to access your portfolio
Gulf Insider
01-07-2025
- Business
- Gulf Insider
Stablecoins Are Becoming 'Default Settlement Layer
Stablecoins have become the backbone of internet payments, with adoption now outpacing major traditional card networks in onchain volume, according to Noam Hurwitz, head of engineering at Alchemy. Hurwitz told Cointelegraph that stablecoins have seen 'explosive' adoption, adding that they are 'becoming the default settlement layer for the internet.' Companies like PayPal and Stripe are integrating stablecoins to leverage onchain infrastructure, enabling faster and cheaper transactions. 'They've already surpassed Visa and Mastercard in onchain volume by 7%,' Hurwitz noted, signaling a decisive shift in how money moves online. Alchemy, which provides infrastructure to some of the largest stablecoin ecosystems, is at the center of this transformation. Hurwitz said Alchemy is 'the onchain provider for Robinhood Wallet' and powers stablecoin flows for fintech giants like Visa, Stripe, Circle, and PayPal. Hurwitz said that stablecoins make money 'cheap, fast, global, and secure to transfer.' These features have made them popular for various purposes, with broad adoption emerging across cross-border payments and prediction markets like Polymarket. He added that stablecoins have become massive buyers of US Treasurys, with Tether alone generating $13 billion in profits last year while holding around $113 billion in US debt. 'Tokenized money is the base of the tokenized financial system,' Hurwitz said, calling recent financial innovation built on this foundation 'exciting.' Tether holds more US Treasurys than Germany. Source: TFTC Hurwitz said stablecoins are already functioning as the 'default rails' for internet payments in many respects but flagged challenges stemming from the fragmented blockchain landscape. Institutions, he explained, want to move quickly but must assess provider reliability and counterparty risks, especially in a nascent industry. 'Can a small startup really support enterprise-grade operations while building and scaling the services they need?' he asked. Hurwitz pointed to Kinexys, a tokenized bank deposit launched by JP Morgan, as a major milestone. The permissioned deposit token enables institutional clients to access yield-bearing deposits on a public blockchain with '24/7 settlement, near real-time liquidity and the potential ability to pay interest to holders.' Last week, the US Senate passed the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, a landmark bill establishing federal guardrails for stablecoins. 'With the recent passage of the Genius Act, the regulatory landscape is becoming clearer and more structured, which benefits established financial players while also encouraging innovation,' Hurwitz said. Meanwhile, Hurwitz pointed out key technical bottlenecks in improving developer and end-user experience despite strong growth. 'Companies benefit immensely from settling on crypto rails, but want to decouple the user experience from the underlying technology — and doing so takes deep technical expertise,' he explained. Looking ahead, Hurwitz expects most financial services to deploy their own blockchains, especially layer 2 networks, to better scale and monetize their ecosystems. He predicted that infrastructure improvements would drive 'seamless crosschain interoperability' between these networks, enabling a more connected and efficient financial system built on stablecoins. Despite Hurwitz's optimistic view of stablecoins, a new Bank for International Settlements (BIS) report challenges the notion that they can serve as money in a modern financial system. The BIS Annual Economic Report 2025 claims stablecoins fail critical singleness, elasticity, and integrity tests. The organization described stablecoins as 'digital bearer instruments' that resemble financial assets more than actual money. Also read: Indian Politician Calls For Bitcoin Reserve Pilot As US Embraces Crypto
Crypto Insight
13-06-2025
- Business
- Crypto Insight
Chainlink, JPMorgan, Ondo Finance complete crosschain treasury settlement
Chainlink, JPMorgan's Kinexys and Ondo Finance completed a 'first-of-its-kind' crosschain delivery versus payment (DvP) settlement between a permissioned payment network and a public testnet. The test involved Kinexys Digital Payments, a permissioned network operated by JPMorgan and Ondo Chain's testnet, which is focused on real-world asset (RWA) tokenization, Chainlink said in a Thursday announcement. The settlement was coordinated using Chainlink's Runtime Environment (CRE), an offchain compute layer designed for interoperable financial systems. At the center of the transaction was OUSG, Ondo's tokenized US Treasurys fund, which was exchanged for payment via Kinexys' platform. The move comes as TradFi and decentralized finance (DeFi) increasingly converge. With over $23 billion in tokenized RWAs now live on public blockchains, the need for crosschain settlements grows. How was the settlement executed? The recent DvP test involved the exchange of OUSG and a simultaneous fiat payment through Kinexys Digital Payments. RE orchestrated the workflow, verified escrow events on Ondo Chain, initiated payment instructions via Kinexys and coordinated the final settlement. Notably, only transaction instructions crossed between networks. The successful transaction is the first to be executed on the Ondo Chain testnet and represents an expansion of Kinexys' settlement capabilities beyond private chains. 'CRE is highly configurable and can be used to settle different types of DvP transactions of varying complexity, including single-chain and multichain DvP transactions, enabling complex financial activity with reduced counterparty and settlement risk,' Chainlink said. RWA market surges 260% In the first half of 2025, the RWA market surged more than 260%, surpassing $23 billion in total valuation. It was $8.6 billion at the beginning of the year, according to a Binance Research report shared with Cointelegraph. Tokenized private credit led the RWA market boom, accounting for about 58% of the market share, followed by tokenized US Treasury debt, which accounted for 34%. New players also continue to enter the market. On June 5, Pan-European fund manager APS purchased 3 million euros ($3.4 million) in tokenized bonds tied to two Italian residential properties listed on MetaWealth. Source:
Malaysian Reserve
06-06-2025
- Business
- Malaysian Reserve
May in Review: 13 Top Finance Press Releases
A roundup of the most newsworthy financial press releases from PR Newswire, including a rebound in consumer confidence and corporate responses amidst tariff uncertainty. NEW YORK, June 6, 2025 /PRNewswire/ — With thousands of press releases published each month, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the month's most popular releases and newsworthy trends, here's a recap of some of the past month's most read- and engaged-with stories. The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download. US Consumer Confidence Partially Rebounds in MayConsumers' pessimism about the future moderates after surging in April. According to the Conference Board Consumer Confidence Index®, May's rebound in confidence is broad-based across all age, income and political affiliation groups. Chainlink, Kinexys by J.P. Morgan, and Ondo Finance Team Up to Bring Bank Payment Rails to Tokenized Asset Markets'The demonstrated cross-chain solution is a testament to what can be achieved through strong collaboration across diverse segments of the Web3 ecosystem, and we are pleased to have worked with Ondo and Chainlink to bring this to life as the first transaction on Ondo Chain testnet,' said Nelli Zaltsman, Head of Platform Settlement Solutions, Kinexys Digital Payments at Kinexys by J.P. Morgan. PNC Bank Agrees to Acquire Aqueduct Capital Group to Complement Harris Williams Capabilities'This acquisition is complementary to existing capital advisory capabilities provided through PNC's subsidiary Harris Williams and will enable us to expand our ability to serve the global capital needs of the private equity industry,' said Michael D. Thomas, head of Corporate & Institutional Banking at PNC. Bain & Company forms global partnership with Palantir to deliver high impact, end-to-end AI transformations for clientsThe partnership enables clients worldwide to accelerate AI-driven productivity gains with enhanced speed and efficiency through Palantir's cutting-edge enterprise AI platforms, yielding tangible impact in weeks. DeFi Technologies Begins Trading on Nasdaq, Announces Shareholder Call to Discuss Q1 2025 Financial ResultsUpon commencement of trading on Nasdaq, the Company's Common Shares will cease to be quoted on the OTC Markets. DeFi Technologies will continue to trade on the CBOE Canada and the Börse Frankfurt exchanges. Parkland Corporation to be Acquired by Sunoco LPSunoco LP and Parkland Corporation have entered into a definitive agreement whereby Sunoco will acquire all outstanding shares of Parkland in a cash and equity transaction valued at approximately U.S.$9.1 billion, including assumed debt. Hometown Food Company, a Brynwood Partners Portfolio Company, Agrees to Acquire the Chef Boyardee® Brand from Conagra Brands, $600 million transaction includes the 820,000 square foot facility in Milton, PA, as well as all assets and operations dedicated to the Chef Boyardee brand. The transaction is expected to close in the second quarter of 2025, subject to customary U.S. regulatory review. Hall of Fame Resort & Entertainment Company Enters into Definitive Agreement for Going Private TransactionUnder the terms of the agreement, HOFV Holdings, LLC will acquire all outstanding shares of the Company's common stock not currently owned by IRG and its affiliates for $0.90 per share in cash. Upon completion of the transaction, the Company's common stock and warrants will no longer be listed on any public stock exchange. Deerfield Management Closes Over $600 Million Healthcare Venture FundThe Deerfield Healthcare Innovations Fund III, a fund of over $600 million, will invest in promising therapeutics, improvements to healthcare delivery, and paradigm-shifting technologies. HUB Secures Significant Minority Investment and Reaches New Milestone with $29 Billion Valuation Demonstrating Confidence in the Company's Sustainable Top Tier Organic GrowthHub International Limited (HUB), a leading global insurance brokerage and financial services firm, has entered into a definitive agreement for a minority common equity investment of approximately $1.6 billion, valuing HUB at a $29 billion total enterprise valuation. Guardian adds over 20 new and innovative benefits to its hospital indemnity insurance policy, designed to inspire well-being®Guardian's enhanced hospital indemnity insurance policy becomes one of the industry's most comprehensive offerings, going further to support workers' mental, physical, and financial well-being needs. As part of these additions, Guardian becomes the first carrier to include fertility health, family-building, and caregiving wellness solutions directly in hospital indemnity insurance. Strive Asset Management to Combine with Asset Entities to Form First Publicly Traded Asset Management Bitcoin Treasury CompanyThe combined company will operate under the Strive brand, remain listed on NASDAQ, and become a public Bitcoin Treasury Company, aiming to maximize Bitcoin exposure per share over the long run, including through novel financial strategies not previously used by other Bitcoin treasury companies, to maximize value accretion for common equity shareholders. Finastra to Sell Treasury and Capital Markets Division to Apax FundsUpon completion of the transaction, Finastra's Treasury and Capital Markets (TCM) business will be rebranded and operated as a standalone business. With a client base of over 340 financial institutions, TCM is a trusted enabler of risk management, regulatory compliance, and capital markets operations. For more news like this, check out all of the latest finance-related releases from PR Newswire. Trending Topics Among the finance news that was distributed in May, the PR Newswire team was able to spot several larger stories that highlight the trends shaping the industry. Corporate Tariff Tactics: Press releases throughout May showcased how businesses transformed tariff challenges into strategic opportunities and innovative corporate responses. Gap International launched 'Lightning in a Bottle' to help executives deliver results amidst uncertain markets, while consulting firms Kearney and J.S. Held both capitalized on demand by launching comprehensive tariff impact solutions. The corporate adaptation was swift and decisive—80% of corporations reported reworking ESG strategies amid policy shifts and 73% of HR leaders expressed confidence in their ability to navigate the tumult, according to survey results published by The Conference Board. Summer Spending Shift: As the start of summer travel kicked off, American consumers faced financial contradictions this May, according to multiple industry studies. Deloitte found that people plan to travel more this summer while simultaneously cutting back on spending, a trend reflecting careful consumer prioritization. Generali Global Assistance's 2025 Holiday Barometer revealed Americans are seeking 'meaningful getaways closer to home,' suggesting a shift toward value-conscious vacation planning. Meanwhile, data from Trustpilot's 2025 Summer Spending Survey echoed similar patterns, emphasizing consumer's sense of financial caution this summer. Small Biz Spotlight: National Small Business Week showcased a plethora of innovative financing and specialized services. ADP celebrated with insights from nearly 18,000 small business owners who stayed confident amid uncertainty. Comerica Bank swung big with a $250,000 contribution to community organizations while Progressive drove small business forward with $1 million in commercial vehicle grants. Consulting IQ offered free access to its AI digital business platform and Iris® Powered by Generali launched identity and cyber protection bundles specifically for small business owners. The Most Entrepreneurial Cities of 2025 research proved size doesn't matter when accessing capital and innovation, despite new data from the National Small Business Association revealing economic uncertainty weighs heaviest on small business decision-making. Do you have a finance press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most. Helping Journalists Stay Up to Date on Industry News These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists. Once they're signed up, reporters, bloggers, and freelancers have access to the following free features: Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more. Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger's next story. Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles. Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more. About PR Newswire PR Newswire is the industry's leading press release distribution partner with an unparalleled global reach of more than 440,000 newsrooms, websites, direct feeds, journalists and influencers and is available in more than 170 countries and 40 languages. From our award-winning Content Services offerings, integrated media newsroom and microsite products, Investor Relations suite of services, paid placement and social sharing tools, PR Newswire has a comprehensive catalog of solutions to solve the modern-day challenges PR and communications teams face. For 70 years, PR Newswire has been the preferred destination for brands to share their most important news stories across the world. For questions, contact the team at
Yahoo
06-06-2025
- Business
- Yahoo
May in Review: 13 Top Finance Press Releases
A roundup of the most newsworthy financial press releases from PR Newswire, including a rebound in consumer confidence and corporate responses amidst tariff uncertainty. NEW YORK, June 6, 2025 /PRNewswire/ -- With thousands of press releases published each month, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the month's most popular releases and newsworthy trends, here's a recap of some of the past month's most read- and engaged-with stories. The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download. US Consumer Confidence Partially Rebounds in MayConsumers' pessimism about the future moderates after surging in April. According to the Conference Board Consumer Confidence Index®, May's rebound in confidence is broad-based across all age, income and political affiliation groups. Chainlink, Kinexys by J.P. Morgan, and Ondo Finance Team Up to Bring Bank Payment Rails to Tokenized Asset Markets"The demonstrated cross-chain solution is a testament to what can be achieved through strong collaboration across diverse segments of the Web3 ecosystem, and we are pleased to have worked with Ondo and Chainlink to bring this to life as the first transaction on Ondo Chain testnet," said Nelli Zaltsman, Head of Platform Settlement Solutions, Kinexys Digital Payments at Kinexys by J.P. Morgan. PNC Bank Agrees to Acquire Aqueduct Capital Group to Complement Harris Williams Capabilities"This acquisition is complementary to existing capital advisory capabilities provided through PNC's subsidiary Harris Williams and will enable us to expand our ability to serve the global capital needs of the private equity industry," said Michael D. Thomas, head of Corporate & Institutional Banking at PNC. Bain & Company forms global partnership with Palantir to deliver high impact, end-to-end AI transformations for clientsThe partnership enables clients worldwide to accelerate AI-driven productivity gains with enhanced speed and efficiency through Palantir's cutting-edge enterprise AI platforms, yielding tangible impact in weeks. DeFi Technologies Begins Trading on Nasdaq, Announces Shareholder Call to Discuss Q1 2025 Financial ResultsUpon commencement of trading on Nasdaq, the Company's Common Shares will cease to be quoted on the OTC Markets. DeFi Technologies will continue to trade on the CBOE Canada and the Börse Frankfurt exchanges. Parkland Corporation to be Acquired by Sunoco LPSunoco LP and Parkland Corporation have entered into a definitive agreement whereby Sunoco will acquire all outstanding shares of Parkland in a cash and equity transaction valued at approximately U.S.$9.1 billion, including assumed debt. Hometown Food Company, a Brynwood Partners Portfolio Company, Agrees to Acquire the Chef Boyardee® Brand from Conagra Brands, $600 million transaction includes the 820,000 square foot facility in Milton, PA, as well as all assets and operations dedicated to the Chef Boyardee brand. The transaction is expected to close in the second quarter of 2025, subject to customary U.S. regulatory review. Hall of Fame Resort & Entertainment Company Enters into Definitive Agreement for Going Private TransactionUnder the terms of the agreement, HOFV Holdings, LLC will acquire all outstanding shares of the Company's common stock not currently owned by IRG and its affiliates for $0.90 per share in cash. Upon completion of the transaction, the Company's common stock and warrants will no longer be listed on any public stock exchange. Deerfield Management Closes Over $600 Million Healthcare Venture FundThe Deerfield Healthcare Innovations Fund III, a fund of over $600 million, will invest in promising therapeutics, improvements to healthcare delivery, and paradigm-shifting technologies. HUB Secures Significant Minority Investment and Reaches New Milestone with $29 Billion Valuation Demonstrating Confidence in the Company's Sustainable Top Tier Organic GrowthHub International Limited (HUB), a leading global insurance brokerage and financial services firm, has entered into a definitive agreement for a minority common equity investment of approximately $1.6 billion, valuing HUB at a $29 billion total enterprise valuation. Guardian adds over 20 new and innovative benefits to its hospital indemnity insurance policy, designed to inspire well-being®Guardian's enhanced hospital indemnity insurance policy becomes one of the industry's most comprehensive offerings, going further to support workers' mental, physical, and financial well-being needs. As part of these additions, Guardian becomes the first carrier to include fertility health, family-building, and caregiving wellness solutions directly in hospital indemnity insurance. Strive Asset Management to Combine with Asset Entities to Form First Publicly Traded Asset Management Bitcoin Treasury CompanyThe combined company will operate under the Strive brand, remain listed on NASDAQ, and become a public Bitcoin Treasury Company, aiming to maximize Bitcoin exposure per share over the long run, including through novel financial strategies not previously used by other Bitcoin treasury companies, to maximize value accretion for common equity shareholders. Finastra to Sell Treasury and Capital Markets Division to Apax FundsUpon completion of the transaction, Finastra's Treasury and Capital Markets (TCM) business will be rebranded and operated as a standalone business. With a client base of over 340 financial institutions, TCM is a trusted enabler of risk management, regulatory compliance, and capital markets operations. For more news like this, check out all of the latest finance-related releases from PR Newswire. Trending Topics Among the finance news that was distributed in May, the PR Newswire team was able to spot several larger stories that highlight the trends shaping the industry. Corporate Tariff Tactics: Press releases throughout May showcased how businesses transformed tariff challenges into strategic opportunities and innovative corporate responses. Gap International launched "Lightning in a Bottle" to help executives deliver results amidst uncertain markets, while consulting firms Kearney and J.S. Held both capitalized on demand by launching comprehensive tariff impact solutions. The corporate adaptation was swift and decisive—80% of corporations reported reworking ESG strategies amid policy shifts and 73% of HR leaders expressed confidence in their ability to navigate the tumult, according to survey results published by The Conference Board. Summer Spending Shift: As the start of summer travel kicked off, American consumers faced financial contradictions this May, according to multiple industry studies. Deloitte found that people plan to travel more this summer while simultaneously cutting back on spending, a trend reflecting careful consumer prioritization. Generali Global Assistance's 2025 Holiday Barometer revealed Americans are seeking "meaningful getaways closer to home," suggesting a shift toward value-conscious vacation planning. Meanwhile, data from Trustpilot's 2025 Summer Spending Survey echoed similar patterns, emphasizing consumer's sense of financial caution this summer. Small Biz Spotlight: National Small Business Week showcased a plethora of innovative financing and specialized services. ADP celebrated with insights from nearly 18,000 small business owners who stayed confident amid uncertainty. Comerica Bank swung big with a $250,000 contribution to community organizations while Progressive drove small business forward with $1 million in commercial vehicle grants. Consulting IQ offered free access to its AI digital business platform and Iris® Powered by Generali launched identity and cyber protection bundles specifically for small business owners. The Most Entrepreneurial Cities of 2025 research proved size doesn't matter when accessing capital and innovation, despite new data from the National Small Business Association revealing economic uncertainty weighs heaviest on small business decision-making. Do you have a finance press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most. Helping Journalists Stay Up to Date on Industry News These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists. Once they're signed up, reporters, bloggers, and freelancers have access to the following free features: Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more. Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger's next story. Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles. Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more. About PR Newswire PR Newswire is the industry's leading press release distribution partner with an unparalleled global reach of more than 440,000 newsrooms, websites, direct feeds, journalists and influencers and is available in more than 170 countries and 40 languages. From our award-winning Content Services offerings, integrated media newsroom and microsite products, Investor Relations suite of services, paid placement and social sharing tools, PR Newswire has a comprehensive catalog of solutions to solve the modern-day challenges PR and communications teams face. For 70 years, PR Newswire has been the preferred destination for brands to share their most important news stories across the world. For questions, contact the team at View original content to download multimedia: SOURCE PR Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
