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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.
Dec 9, 2025, 1:18 p.m.
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.
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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.”
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