CMC Markets says Kinexys by J.P. Morgan blockchain settlement capability is live

Cash transfers already running

CMC said the capability is already live, with cash transfers actively taking place via the blockchain-based system following successful testing. According to the announcement, this gives CMC the ability to transfer cash and settle payments instantly, 24/7, using blockchain technology. Settlement is described as near real-time and programmable, routed through a network of Blockchain Deposit Accounts. The release did not specify which currencies, regions, legal entities or transaction amounts are involved.

Efficiency and risk claims

CMC said the solution reduces settlement risk, operational friction and costs while maintaining "the same high levels of security associated with traditional payment rails". The company framed the arrangement as supporting its strategic focus on global technology infrastructure and capital efficiency, stating that instant movement of funds across currencies and regions allows it to deploy capital more efficiently and reduce liquidity requirements and operational risk. These are CMC's own characterisations; the announcement carried no supporting metrics, independent assessment or cost figures.

The Kinexys side

CMC described Kinexys by J.P. Morgan as J.P. Morgan's blockchain business unit and part of J.P. Morgan Payments, focused on building blockchain-based financial infrastructure with always-on, programmable technology for institutional payment and settlement processes. Zack Chestnut, Global Head of Business Development for Kinexys Digital Payments at Kinexys by J.P. Morgan, said: "Our singular focus is meeting our clients' needs – today and tomorrow – with next generation financial infrastructure." The release did not set out commercial terms, duration or exclusivity.

Executive comment

Founder and CEO Lord Peter Cruddas said the collaboration "marks another important step forward as we strengthen our access to next-generation blockchain infrastructure", adding that reducing friction and liquidity risk across geographies is critical for a global business. He also said: "The team are already seeing enhanced capital efficiency and operational flexibility as a result." No figures were given for that reported improvement.

Corporate scope

The announcement was issued for CMC Markets Plc, whose shares are listed on the London Stock Exchange under ticker CMCX (LEI: 213800VB75KAZBFH5U07). CMC describes itself as serving retail and institutional clients through regulated offices and branches in 12 countries, with a significant presence in the UK, Australia, Germany and Singapore. The release presents the blockchain settlement capability as a group-level treasury and payments arrangement; it does not specify which regulated subsidiaries, currencies, client segments or account types use it, nor any change to client-facing settlement terms.

CMC Markets Group · CMC Markets Group