Siemens and B2C2 Tap JPMorgan’s Blockchain Platform to Streamline FX Payments

Core Insights - Siemens AG and B2C2 have adopted JPMorgan Chase's blockchain-based payments network, Kinexys Digital Payments, for real-time foreign exchange transactions [1][8] - The platform allows for near-instant settlement of cross-border transactions in major currencies, addressing inefficiencies in traditional FX payment systems [3][5] Group 1: Adoption and Benefits - The Kinexys platform enables Siemens and B2C2 to settle transactions in US dollars, British pounds, and euros with near-instant finality, eliminating delays typical in traditional systems [3][6] - B2C2 gains a significant liquidity advantage, allowing for 24/7 cash movement, which is crucial during periods of crypto market volatility [4][8] - Siemens has been an early adopter of JPMorgan's blockchain technology, previously using it for fund transfers between global subsidiaries [6][7] Group 2: Market Trends - The integration of blockchain payment infrastructure is part of a broader trend among large corporations seeking to streamline global money movement [5][8] - JPMorgan's Kinexys network processes approximately $3 billion in daily transactions, indicating growing adoption as firms modernize cash and liquidity management [6][8] - The shift towards blockchain payments aims to provide faster settlements, lower costs, and improved cash visibility in cross-border transactions [5][6]