JPMorgan, in its relentless quest to make blockchain as exciting as a British tea party, has added British pound-denominated accounts to its Kinexys network. Why? Because apparently, the stablecoin market’s obsession with the U.S. dollar left a gap wider than the Atlantic. Kinexys, the blockchain-based payments network that already processes over $2 billion daily, now lets corporate clients shuffle pounds between JPMorgan accounts. This follows its recent foray into euros, because why not? According to Naveen Mallela, global co-head of the Onyx platform, 80% of Kinexys volume is still dollar-based, but hey, the Brits need love too. Bloomberg reports this move aims to address a glaring limitation in the $230 billion stablecoin market, where most tokens are as dollar-tied as a cowboy’s lasso. 🏦💷
In a world where stablecoins are as predictable as a soap opera, JPMorgan’s GBP expansion is the plot twist no one saw coming. Will it revolutionize the market? Probably not. But it’s a step toward making blockchain as diverse as a London pub. Cheers to that! 🍻
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2025-04-15 13:57