Siemens and B2C2 Implement JPMorgan’s Blockchain FX Platform

Siemens and B2C2 have adopted JPMorgan Chase’s Kinexys blockchain platform to facilitate 24/7 foreign exchange payments, enhancing transaction speeds, according to Bloomberg on October 22.

This move signals a growing institutional embrace of blockchain technology for efficient cross-border transactions, potentially reshaping the financial industry landscape.

Siemens and B2C2 Revolutionize FX with Kinexys

Industrial powerhouse Siemens and digital asset market maker B2C2 have started using JPMorgan’s Kinexys for cross-border foreign exchange payments. This move represents a significant enhancement in transaction efficiency, previously hindered by traditional systems, enabling continuous FX operations.

The adoption of JPMorgan’s blockchain infrastructure by major companies illustrates a shift towards innovative financial technologies. With volume exceeding $1.5 trillion, the platform provides speed and accessibility not matched by conventional means, with settlements no longer restricted to business hours.

Reactions in the industry highlight the importance of institutional blockchain adoption. Nicola Bates of Siemens expressed a commitment to innovation, stating, “Being at the forefront of change is crucial.” Jamie Dimon from JPMorgan noted the value of blockchain for such use cases. Here’s a relevant insight: Umar Farooq, Co-Head of Payments at JP Morgan, remarked, “Together with our clients, we aim to move beyond the limitations of legacy technology and realize the promise of a multichain world.”

Historical Context and Future Implications

Did you know? Siemens previously issued €100,000 of tokenized commercial paper on a private blockchain, settling in 93 seconds, a feat that supports the current initiative’s technological shift.

According to CoinMarketCap, J.P. Morgan Deposit Token (JPMD) holds no market value, with zero market cap or trading volume as of October 22, 2025. Despite its institutional use, public trading infrastructure does not reflect its activities, following a model different from public cryptocurrencies.

Insights from Coincu suggest that permissioned blockchain platforms like Kinexys align with evolving regulatory trends that favor real-time and auditable financial services. The success of Kinexys could stimulate further development in enterprise tokenization and programmable money applications.