BMW Adopts JPMorgan Blockchain for Automated Foreign Exchange Transfers

BMW AG has implemented JPMorgan's blockchain system, Kinexys, for automating foreign exchange transfers. This system facilitates instant fund transfers between BMW's accounts, replacing manual processes and ensuring steady global operations without delays.

The Kinexys network allows funds to move within seconds, unlike traditional methods that require bank hours and may take days.
Kinexys began in 2019 and manages billions in daily transfers, used by major firms like J.P. Morgan Private Bank.
Smart contracts automate fund transfers, eliminating the need for wires and manual checks.

JPMorgan's Tokenization Initiative

JPMorgan is enhancing access to alternative assets through tokenization, placing a private-equity fund on its blockchain platform.
Tokenization provides a shared ledger for asset ownership, offering transparency and reducing capital call surprises.
The bank plans to allow institutions to use Bitcoin and Ethereum as collateral by late 2025.
Crypto ETFs can also be used as collateral, with a third-party custodian safeguarding assets.