Siemens and B2C2 Leverage JPMorgan’s Blockchain for 24/7 FX Payments
Siemens AG and digital assets market Maker B2C2 have integrated JPMorgan Chase’s blockchain-based payments network, Kinexys Digital Payments, to execute real-time foreign exchange transactions. The platform enables cross-border settlements in USD, GBP, and EUR with near-instant finality, addressing the limitations of traditional FX systems that operate only on weekdays.
B2C2, a subsidiary of Japan’s SBI Holdings, highlights the system’s critical role in managing liquidity during crypto market volatility. "This gives us the ability to move cash 24/7, seamlessly," said CEO Thomas Restout. The integration mitigates risks tied to traditional banking rails, particularly during sharp weekend market movements.
Kinexys adoption underscores a broader corporate shift toward blockchain-powered payment solutions, emphasizing efficiency and liquidity flexibility in volatile markets.