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Deployments · Kinexys Digital Assets · platform by J.P. Morgan

Kinexys Tokenized Collateral Network (TCN)Updated 28 Oct 2026

An application on Kinexys Digital Assets that lets asset managers and institutional investors pledge or transfer tokenised ownership interests in money market fund shares as collateral, without moving the underlying shares. It went live in October 2023 when BlackRock tokenised shares in one of its money market funds and pledged them to Barclays as collateral for an OTC derivatives trade, after an internal test in May 2022. J.P. Morgan said it planned to add equities and fixed income later; no further named clients or volumes have been published.

AnnouncedProof of conceptPilotLive (limited)Live (scaled)

Live (limited) since 11 Oct 2023[1] — Go-live date from li-tcn-2023 and block-tcn-2023. · Reviewed 13d ago

Assets
Networks
Kinexys Private, permissioned[1]
Use cases
Collateral mobility[1]
Jurisdictions
United States

Participants

Likely relevant regulation

Timeline

  1. Happened 11 Oct 2023 · Launch · recorded 12 Oct 2026
    First live collateral settlement; BlackRock pledges tokenised money market fund shares to Barclays for an OTC derivatives trade, with the transfer near instant.[2]
  2. Happened 11 Oct 2023 · Announcement · recorded 12 Oct 2026
    Alongside go-live, J.P. Morgan says it plans to add more participants and to extend the network from money market fund shares to equities, fixed income and other assets.[4]
  3. Happened May 2022 (month only) · First transaction · recorded 12 Oct 2026
    J.P. Morgan runs an internal test moving tokenised BlackRock money market fund shares as collateral on Onyx Digital Assets.[3]

Sources

  1. [1]Kinexys Digital Assets — tokenized collateral — J.P. Morgan. Accessed 11 Oct 2026.B
  2. [2]BlackRock, Barclays join JP Morgan's Tokenized Collateral Network — Ledger Insights, 11 Oct 2023. Accessed 12 Oct 2026.C
  3. [3]JPMorgan's blockchain-based collateral settlement application goes live: Bloomberg — The Block, 11 Oct 2023. Accessed 12 Oct 2026. Reports Bloomberg's interview with J.P. Morgan executives..C
  4. [4]BlackRock, Barclays Go Live on J.P. Morgan's TCN — Markets Media, 11 Oct 2023. Accessed 12 Oct 2026. Carries J.P. Morgan's announcement text; says the fund's transfer agent connected to TCN and documentation was amended to allow MMF shares as collateral..C
  5. [5]Fidelity Intl tokenizes fund on JPM Tokenized Collateral Network — Ledger Insights, 10 Jun 2024. Accessed 28 Oct 2026.C

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