BMW Group and JPMorgan Execute First Fully Pre-Programmed On-Chain FX Payment
On December 9, 2025, BMW Group and JPMorgan announced the execution of the first fully pre-programmed on-chain foreign exchange (FX) payment. BMW Group became the first corporation to complete this milestone via JPMorgan's Kinexys Digital Payments network, converting euros to U.S. dollars.
This automation relies on JPMorgan's Programmable Payments application, which uses predefined conditions to enable seamless end-to-end FX transactions. The system features automated balance checks, conditional auto-deposits, and near real-time fund transfers. The funds were moved between BMW Group's Blockchain Deposit Accounts located in Frankfurt and New York, bypassing traditional settlement windows and requiring no manual intervention.
The initiative aims to enhance international treasury management by optimizing liquidity in real time and enabling near-instant multi-currency cross-border payments. Stefan Richmann, Head of BMW Group Treasury, described the development as a significant leap forward for faster, more seamless payments.
JPMorgan's Kinexys Digital Payments network emphasizes programmable payments with 24/7/365 on-chain FX settlement. JPMorgan has also explored permissioned variants of Ethereum and has transitioned JPM Coin to Coinbase's Base network as part of its broader digital payment strategy.
