JPMorgan Targets $10B Daily Kinexys Volume; Flags 11% Euro Equity Drop
JPMorgan’s Kinexys blockchain service processed over $3 trillion since 2020 and aims for over $10 billion in daily transactions by onboarding Mitsubishi as its first Japanese corporate client. EMEA equity team says European stocks fell 11% as gas doubled to €60, versus a 20% drop in 2022.
1. Kinexys Seeks $10B Daily Transaction Volume
JPMorgan’s Kinexys blockchain platform has processed over $3 trillion in transactions since its 2020 launch and currently handles $5 billion daily. By onboarding Mitsubishi as its first Japanese corporate client, Kinexys aims to surpass $10 billion in daily transaction volume and expand global adoption of its JPMD deposit token.
2. Euro Equities Reflect Bearish Gas Price Impact
JPMorgan’s EMEA equity research finds European stocks have fallen 11% as natural gas prices doubled to €60, a sharper move than the 20% drop seen in 2022. Analysts highlight weaker wage growth, reduced consumer and corporate buffers, and potential stagflation risks weighing on market sentiment.