BMW Adopts JPMorgan Blockchain to Automate FX Transfers

German automaker BMW has started using a blockchain platform to automate certain foreign exchange transactions, signaling growing corporate adoption of crypto-related technology to streamline cross-border payments.

The company is leveraging JPMorgan’s Kinexys platform to automatically draw funds from its Frankfurt euro account whenever its New York dollar account falls below a set threshold. This system enables 24/7 transfers completed within seconds, eliminating dependency on traditional banking hours and manual intervention.

Kinexys co-CEO Naveen Mallela highlighted the platform’s high-speed and programmable capabilities, which reduce BMW’s required capital buffer against insufficient funds. BMW’s financial head, Stefan Richmann, emphasized that the programmable feature allows transactions to execute automatically based on pre-set conditions.

This move reflects a broader trend of companies exploring blockchain and AI solutions to improve cash management, liquidity, and operational efficiency in global financial operations.

Related reports: JPMorgan will provide real-time settlement services for USD and EUR through blockchain.