Finance Share Share this article Copy linkX (Twitter)LinkedInFacebookEmail BMW Taps JPMorgan for First Onchai Finance Share Share this article Copy linkX (Twitter)LinkedInFacebookEmail BMW Taps JPMorgan for First Onchai

BMW Taps JPMorgan for First Onchain Programmable FX Payment

2025/12/09 21:18
Share
Share this article
Copy linkX (Twitter)LinkedInFacebookEmail

BMW Taps JPMorgan for First Onchain Programmable FX Payment

The German car giant used JPMorgan’s permissioned Kinexys Digital Payments network to do the FX transaction.

By Ian Allison|Edited by Stephen Alpher
Dec 9, 2025, 1:18 p.m.
BMW car (Coindesk archives)

What to know:

  • BMW Group unlocks automatic EUR to USD foreign exchange (FX) to support its international treasury management using Kinexys Digital Payments.
  • The first transaction involved automated balance checks, conditional auto-deposits, near real-time FX transactions and transfers between BMW Group’s Blockchain Deposit Accounts in Frankfurt and New York.
  • This milestone marks the first time Kinexys by J.P. Morgan has made an onchain FX payment through pre-defined and fully automated instructions.

German carmaker BMW Group has become the first corporation to execute a fully pre-programmed FX transaction using mega-bank JPMorgan’s Kinexys Digital Payments network, the companies said on Tuesday.

BMW’s German and U.S. treasury teams pre-defined conditions through JPMorgan’s Programmable Payments application, which enabled an automated, end-to-end FX transaction from EUR to USD. The permissioned blockchain seamlessly transferred the funds between Frankfurt and New York.

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Sign me up

The process was completed outside traditional settlement windows and without manual intervention, allowing BMW Group to optimize liquidity and achieve near-instant, multi-currency cross-border payments based on pre-set conditions, according to a press release.

“We implement a stringent roadmap for real-time treasury on the basis of blockchain technology and other technological innovation developments,” said Stefan Richmann, Head of BMW Group Treasury. “The very first fully automated and programmable payment represents a leap forward for us and will allow us to make payment processes faster and more seamless.”

JPMorgan has been a trailblazer when it comes to experimenting with permissioned versions of Ethereum, and is pushing more innovation out the door lately, including bringing the bank’s blockchain-based deposit token, JPM Coin, to Coinbase’s decentralized Base network.

“We’re proud to help global businesses unlock the combined benefits of programmable payments and 24/7/365 onchain FX settlement,” said Akshika Gupta, J.P. Morgan’s Global Head of Client Services for Kinexys Digital Payments. “Our singular focus is on building next-generation financial infrastructure and we are excited to work with our clients to realize the future of finance.”

JPMorgan

More For You

Protocol Research: GoPlus Security

Commissioned byGoPlus

What to know:

  • As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
  • GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
  • Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
View Full Report

More For You

USDC Issuer Circle Secures Abu Dhabi's ADGM License in Middle East Expansion

The license allows Circle to expand USDC payment and settlement tools across the United Arab Emirates.

What to know:

  • Circle has obtained a Financial Services Permission license from Abu Dhabi Global Market, allowing it to operate as a Money Services Provider in the UAE.
  • The stablecoin issuer has appointed Dr. Saeeda Jaffar, former manager at payments firm Visa.
  • The approval comes as part of the UAE's emergence as a global hub for regulated digital assets, following similar licenses granted to Binance.
Read full story
Latest Crypto News

Standard Chartered Throws in the Towel on Bullish Bitcoin Forecast

Polkadot Trades Little Changed as Crypto Market Consolidates

IREN Raises $2.3B, Repurchases Debt in Balance Sheet Overhaul

No Direction: Crypto Daybook Americas

Tassat Wins U.S. Patent for 'Yield-in-Transit' Onchain Settlement Tech

Crypto Markets Today: Bitcoin Slips Back Toward Danger Zone Ahead of Fed Decision

Top Stories

CoinDesk's Most Influential 2025

Standard Chartered Throws in the Towel on Bullish Bitcoin Forecast

No Direction: Crypto Daybook Americas

IREN Raises $2.3B, Repurchases Debt in Balance Sheet Overhaul

SGX's Crypto Futures Draw New Liquidity, Not Diverted Cash, Exchange's President Says

Crypto Markets Today: Bitcoin Slips Back Toward Danger Zone Ahead of Fed Decision

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

US Justice Department nabs smugglers behind $160M Nvidia‑chip export ring to China

US Justice Department nabs smugglers behind $160M Nvidia‑chip export ring to China

The post US Justice Department nabs smugglers behind $160M Nvidia‑chip export ring to China appeared on BitcoinEthereumNews.com. The US Justice Department on Tuesday confirmed it shut down a China‑linked smuggling ring that moved or tried to move more than $160 million worth of Nvidia AI chips out of the United States and into banned markets, according to the US Attorney’s Office for the Southern District of Texas. Two businessmen were arrested, while a Houston‑based company and its owner already pleaded guilty as the wider case continues to unfold. The crackdown lands as Washington tightens the screws on export controls meant to block China from getting advanced AI computing power built on Nvidia GPUs. The probe, named Operation Gatekeeper, focused on chips with civil and military uses, which prosecutors say could damage US national security if they fall into the wrong hands. Hsu moves $160M in Nvidia GPUs through fake paperwork Newly unsealed court filings show Alan Hao Hsu, 43, of Missouri City, Texas, and his company Hao Global LLC admitted guilt on October 10 to smuggling and illegal exports. Prosecutors said Alan and his network exported or attempted to export at least $160 million in Nvidia H100 and H200 GPUs between October 2024 and May 2025. The H100 and H200 are not Nvidia’s most advanced chips, but they still sit on the restricted list and cannot be shipped to China without a special federal license. Authorities said Alan ran his pipeline by falsifying shipping records, mislabeling the GPUs, and hiding their real destinations across China, Hong Kong, and other banned locations. Investigators tracked more than $50 million in money tied to China that flowed into the operation to fund the purchases. Alan remains free on bond and faces up to 10 years in prison at sentencing on February 18. Hao Global LLC could face fines up to twice its illegal profits and be placed on probation. A…
Share
BitcoinEthereumNews2025/12/09 23:36