BMW uses JPMorgan Chase's blockchain system for automated foreign exchange transfers.

PANews reported on December 9th that, according to Bloomberg, BMW AG has integrated with JPMorgan Chase 's Kinexys platform to automate some foreign exchange transfers using blockchain technology: when its New York account's dollar balance falls below a set threshold, the system automatically transfers euros from its Frankfurt account. This solution leverages on-chain speed and programmability to reduce the need for reserve capital buffers to address cash shortages.