As reported by Blockbeats, German automaker BMW AG has started using a blockchain-based system to automate part of its foreign exchange transactions. The company is utilizing JPMorgan Chase & Co.'s Kinexys platform, which automatically transfers euros from its Frankfurt account to its New York dollar account when the balance falls below a set threshold. This move aims to accelerate and simplify cross-border payment processes worth billions of dollars.
BMW Uses JPMorgan's Kinexys Blockchain Platform for Automated Foreign Exchange Transfers
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