BMW has completed its first on-chain programmable FX payment.

BMW Group has implemented the Kinexys Digital Payments system to automate the conversion of Euros to Dollars in support of its international treasury management.

This significant operation involved automated balance controls, conditional automatic investments, near-real-time FX transactions, and transfers conducted between BMW Group’s Blockchain Deposit Accounts in Frankfurt and New York.

This step signifies that the Kinexys system, developed by J.P. Morgan, has executed an onchain FX payment for the first time with predefined and fully automated instructions.