Tools: Why JPMorgan's $1.5 Trillion Tokenization Plan Cannot Work Without Fhenix's Encryption

JPMorgan's blockchain platform, Kinexys, has processed over $1.5 trillion in transactions since launch, yet the bank has publicly stated that the absence of mature on-chain privacy solutions creates "operational friction" in tokenized asset interactions. Fhenix, founded by MIT cryptographer Guy Zyskind, is building Fully Homomorphic Encryption (FHE) infrastructure that allows computations to be run on encrypted data without ever revealing what that data contains. Its latest CoFHE coprocessor, deployed on Base, claims throughput improvements of up to 5,000 times over earlier FHE systems. The question is whether the technology can mature fast enough to meet the institutional demand already forming around it.