JPMorgan Switches On Programmable Payments Using Blockchain Tech
- System lets companies set rules to shift cash automatically
- Germany’s Siemens debuted the new feature to move funds
JPMorgan Chase & Co. headquarters in New York.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
One of the most high-profile blockchain systems in traditional banking has added a new feature that lets companies shift cash automatically.
JPMorgan Chase & Co’s JPM Coin now allows clients to program their accounts by plugging in a set of key conditions, enabling them to move funds to cover overdue payments and margin calls. Further down the line, it may help them seize on differences in exchange rates.