J.P. Morgan made private equity history on-chain by launching Kinexys Fund Flow.

It offered high-net-worth clients served by JPM Private Bank direct digital ownership of fund shares, with a broader Kinexys rollout planned for 2026 into real estate, infrastructure and private credit. [NEWS]

This is the world’s largest bank turning LP stakes into tokens.

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What Happened

JPM tokenised a private equity fund on its own blockchain, Kinexys. It is turning private-market infrastructure into a profit engine, opening access to a $400B high-net-worth investor pool while capturing fees across issuance, custody, and settlement in a single, integrated loop.

Zooming in: The debut PE tokenisation transaction was conducted in collaboration with fund administrator Citco, a critical operational partnership.

The immediate upside is practical: faster settlement, cleaner records, simpler transfers between owners and a smoother onboarding experience for wealthy clients who want alternatives without paper-heavy ops.