BMW Taps JPMorgan for First Onchain Programmable FX Payment

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email 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 By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . 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 By CoinDesk Research Nov 14, 2025 Commissioned by GoPlus 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. 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