Marex Makes History as First Clearing Firm to Adopt Kinetyx Digital Payments
Wall Street's old guard just got a crypto wake-up call.
Marex—the 130-year-old clearinghouse—just inked a deal to process settlements via Kinetyx's blockchain rails. No more waiting for snail-paced SWIFT confirmations or begging correspondent banks for mercy.
The back-office revolution starts now
Kinetyx's real-time settlement tech cuts middlemen like a hot knife through bureaucratic butter. We're talking T+0 finality for institutional trades—something TradFi dinosaurs still claim is 'impossible.'
One cynical observer noted: 'Finally, clearing firms are entering the 21st century—only 25 years late.'
This isn't just about speed. Marex's move signals that even the most conservative players now see blockchain's inevitability. When the guys processing your grandma's municipal bonds start using digital assets, you know the paradigm shifted.
Next stop? Probably some investment bank 'discovering' that instant settlements reduce counterparty risk. Genius.
Marex Group plc, the diversified global financial services platform, announces a collaboration with Brevan Howard Digital to utilize Kinexys by J.P. Morgan’s Kinexys Digital Payments in order to reduce settlement risk and facilitate more efficient payments.
Marex is the first clearing firm to use Kinexys Digital Payments’ blockchain deposit accounts to facilitate more streamlined processes with clients. Since joining Kinexys Digital Payments in 2024, Brevan Howard Digital has been actively working with industry participants to help create an ecosystem to utilize the always-on, programmable blockchain infrastructure. This collaboration with Brevan Howard Digital affirms Marex’s position as a market leader in innovation, implementing new technologies to better serve its clients and bring new efficiencies to financial markets.
Kinexys Digital Payments, part of J.P. Morgan’s industry-leading blockchain business unit, enables counterparties to facilitate instant, programmable 24/7 settlements in NEAR real-time using its network of blockchain deposit accounts. Using this technology, Marex and Brevan Howard Digital can settle payments instantly, reducing settlement risk, time and cost, whilst maintaining the same level of security provided by traditional payment settlement rails.
Terry Hollingsworth, Global Head of Futures & OTC Clearing Sales at Marex, commented, “Kinexys by J.P. Morgan is the next generation of financial market infrastructure. By enabling programmable payment and settlement, the platform leverages automation to unlock asset utility and reduce risk. As a firm with innovation and client service at our core, we are proud to collaborate with Brevan Howard Digital on this forward-looking initiative, bringing greater operational efficiency to our clients as well as the wider market.”
Adam Gibbons, COO at Brevan Howard Digital, commented, “This is yet another tangible example of how blockchain technology can drive efficiency gains and strengthen risk management controls. At Brevan Howard Digital, we remain at the forefront of adopting innovative digital solutions to help deliver the best possible outcomes for our clients. Our collaboration with the teams at both of these organisations is a clear demonstration of that commitment.”
Akshika Gupta, Global Head of Client Solutions at Kinexys by J.P. Morgan, said, “Marex and Brevan Howard Digital utilizing the growing Kinexys Digital Payments network to make seamless, 24/7 settlements represents a significant milestone in the advancement of financial market infrastructure. We have been a pioneer in digital payments on blockchain, and this work highlights our dedication to continuing to drive progress and deliver cutting-edge infrastructure for our clients and the industry at large.”
Source: Marex
