BMW Taps JPMorgan for First Onchain Programmable FX Payment

German automaker BMW Group successfully completed the first fully pre-programmed foreign exchange (FX) transaction utilizing mega-bank JPMorgan’s Kinexys Digital Payments network. BMW's treasury teams defined conditions via JPMorgan’s Programmable Payments application, enabling an automated, end-to-end transfer of funds from EUR to USD between Frankfurt and New York on a permissioned blockchain. This process occurred outside traditional settlement windows without manual intervention, allowing BMW to optimize liquidity and achieve near-instant, multi-currency cross-border payments based on preset conditions. BMW views this as a significant step toward real-time treasury operations based on blockchain technology, while JPMorgan emphasized its focus on building next-generation financial infrastructure to realize the future of finance.

(Source：CoinDesk)