1. The milestone significance of this event (far beyond clickbait)

  • This is the world's first 'fully programmable' enterprise-level cross-border foreign exchange payment implemented in a production environment (not a test network, not a PoC).

  • The transaction itself is BMW Group Treasury buying dollars (or selling) dollars with euros between two countries, although the amount is not large (in the millions of dollars), the entire process achieved:

    • Condition-triggered automatic execution (for example, when the exchange rate reaches a certain point, or when a supplier's invoice is due)

    • Atomic settlement (foreign exchange + payment completed simultaneously, with no counterparty risk)

      Fully on-chain auditable

  • In other words, this is no longer the concept of 'blockchain settlement', but rather the true realization of 'programmable payment' in enterprise scenarios.

2. The strategic significance of JPMorgan (they won big)

  • Kinexys Digital Payments (formerly Onyx upgraded version) now processes over $1.5 billion in transactions daily, with over $2 trillion accumulated by 2025.

  • This collaboration equates to giving all Fortune 500 companies the strongest endorsement: even the most conservative German automotive giants dare to put real foreign exchange on the chain, what reason do other companies have to refuse?

  • JPMorgan is turning 'permissioned chain + JPM Coin (bank-issued stablecoin)' into a de facto enterprise payment infrastructure, effectively accomplishing what Libra aimed to do back then, but in a compliant manner.

This is not just an ordinary collaboration news, but the most important watershed event of 2025, comparable in significance to:

  • In 2019, Facebook Libra was announced (though it later died, it opened the era of stablecoins)

  • In 2024, BlackRock's Bitcoin spot ETF was approved

Brothers! Is this an opportunity?!

It marks the transition of 'blockchain from speculative asset' to 'enterprise productivity tool'.

If I had to summarize my view in one sentence:

'While retail investors are fussing over Memecoins, Wall Street and German industrial giants have quietly integrated blockchain into their ERP systems.'

The real winner in this matter is JPMorgan, and the real opportunity for the crypto industry is how to capture the trillion-dollar enterprise payment demand flowing from the permissioned chain in the next 12 months.

What do you think? Do you believe public chains still have a chance to reverse the situation, or will permissioned chains completely monopolize enterprise scenarios?