DBS and J.P. Morgan’s Kinexys Develop Interoperability Framework for Tokenized Deposits
Singapore’s DBS Bank and Kinexys, a J.P. Morgan subsidiary, have unveiled a collaborative effort to create an interoperability framework for tokenized deposits. The initiative aims to establish a new industry standard for real-time, cross-border settlements across both public and permissioned blockchains.
The framework, currently in development, will enable seamless transactions between clients of Kinexys Digital Payments and DBS Token Services. Institutional clients of J.P. Morgan could soon use JPM Deposit Tokens (JPMD) to transact with DBS clients on public blockchains, with the option to convert or redeem these tokens for fiat currency.
Rachel Chew, Group COO at DBS Bank, emphasized the strategic importance of instant 24/7 payments in helping businesses navigate global risks and capitalize on emerging opportunities. The project signals growing institutional confidence in blockchain-based financial infrastructure.
