March 06, 2026 – CMC Markets has launched blockchain-based settlements through JPMorgan’s Kinexys platform. As a result, the broker can now process payments around the clock. This marks a key step in on-chain adoption.
How the Kinexys Settlement System Works
The system runs on Blockchain Deposit Accounts that settle payments in near real-time. Because of this, firms no longer wait for banking hours to move funds. In other words, old clearing delays are gone.
JPMorgan built Kinexys on the Base public blockchain. Also, the bank launched JPM Coin last year as a token for large clients. Together, these tools power cross-border transfers across several currencies.
Why This Deal Matters for Brokers
CMC Markets is one of the first retail brokers to plug into bank-grade blockchain rails. As a result, the firm cuts settlement risk and lowers costs. Moreover, this gives CMC a clear edge over rivals still using older systems.
Lord Peter Cruddas, CMC’s CEO, said the platform is already live. In addition, he pointed to better use of capital and more flexible daily work. Because of this, rival brokers may feel pressure to follow suit.
JPMorgan’s Bigger Blockchain Push
The CMC deal fits into JPMorgan’s wider blockchain plans. For instance, in May 2025, the bank ran its first trade linking private and public networks. That deal used U.S. Treasury tokens settled through Kinexys and Ondo Finance.
In addition, Chainlink served as the bridge between those two systems. Before this, tests such as a 2024 trial with Siemens stayed small. However, the CMC rollout now moves Kinexys into full live use.
The Bottom Line
Wall Street’s biggest bank is now running live settlements for a major broker. As a result, this could accelerate blockchain adoption across the broader market. For CMC’s clients, the payoff is clear: faster funding and lower costs.
