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

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

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

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