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