Siemens and B2C2 Leverage JPMorgan’s Blockchain for Efficient FX Payments

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

Siemens AG and the digital asset market maker B2C2 are the latest prominent companies to embrace JPMorgan Chase’s blockchain-powered payments network. This innovative solution enables real-time foreign exchange (FX) transactions, available 24/7.

Key Takeaways:

Siemens and B2C2 utilize JPMorgan’s Kinexys blockchain for real-time cross-border FX transactions, operational around the clock.
B2C2 highlights the system's crucial liquidity flexibility during periods of crypto market fluctuations.
The adoption of Kinexys illustrates a broader trend of companies shifting towards blockchain for payment solutions.

According to a report from Bloomberg, the Kinexys Digital Payments platform empowers Siemens and B2C2 to settle international transactions in US dollars, British pounds, and euros with nearly immediate finality. Traditional FX payment systems typically function only on weekdays and can take several days to clear transactions, an issue that Kinexys intends to address.

B2C2’s 24/7 Liquidity Advantage with JPMorgan’s Blockchain Integration

For B2C2, which is a subsidiary of Japan’s SBI Holdings, the integration presents a significant advantage in managing liquidity amid crypto market volatility. “This gives us the ability to move cash 24/7, seamlessly,” remarked Thomas Restout, B2C2’s CEO. “For risk management, it’s a key piece.”

Restout pointed out that relying on traditional banking systems can be limiting during sudden market fluctuations that occur over weekends when banks are closed, preventing traders from accessing the capital. This transition signifies a growing trend among large corporations that are turning to blockchain-based payment frameworks to enhance the movement of funds globally.

Distributed ledger technology can deliver faster transaction settlements, reduced back-office expenses, and improved visibility of cash flows—addressing long-standing issues in international payments. While financial institutions have been experimenting with blockchain for several years, consistent commercial scalability has only recently been achieved.

JPMorgan’s Kinexys network, established in 2019, now processes approximately $3 billion in daily transactions, which is a small portion of the nearly $10 trillion managed daily by the bank's overall payments division. Yet, the adoption is on the rise as major organizations pursue modern approaches to cash and liquidity management.

Siemens, an early adopter of Kinexys, recently utilized the platform to execute a near-instantaneous dollar-to-euro transfer. Four years ago, they became the first client to transfer funds between global subsidiaries using JPMorgan's blockchain deposit accounts. “This latest enhancement simplifies transactional FX in real time, overcoming time-zone challenges and mobilizing cash precisely when and where it's needed,” stated Heiko Nix, Siemens’ global head of cash management and payments.

Trimont Embraces JPMorgan’s Blockchain to Reduce Loan Payment Times

In a similar move, commercial real estate loan servicer Trimont LLC, managing around $730 billion in assets, has begun utilizing JPMorgan's Kinexys blockchain to automate and expedite loan payment processing. The system is now capable of identifying, verifying, and routing payments in mere minutes, a significant improvement over the two-day settlement time associated with traditional methods.

Trimont first integrated with the blockchain network in August and is looking to expand its use in the coming year, according to CEO Bill Sexton. This decision reflects the increasing corporate interest in blockchain-based financial systems, which provide faster, programmable, and continuous settlement options.

Even though the Kinexys network processes only $3 billion in daily transactions—a small fraction of the total handled by JPMorgan—it signifies a meaningful shift toward real-time finance, as businesses increasingly seek efficiency beyond conventional banking hours.