JPMorgan Blockchain Will Help …

JPMorgan Blockchain Will Help … post thumbnail image

The company has many tools in its arsenal that may interest market participants.

Onyx, the blockchain division of JPMorgan that holds American finance, will help German technology company Siemens set up a payment system. Writing about this Financial Times.

  • According to the publication, the Onyx tool will help Siemens optimize payment processing within the company. In particular, we are talking about the automation of dollar transfer systems. In the future, the developer plans to add tools for conducting transactions with the euro.
  • The Financial Times drew attention to the fact that Siemens became the first major client of JPMorgan’s blockchain division.
  • Recall that representatives of the American financial holding announced the creation of Onyx in October 2020. The JPMorgan division covers all of the company’s blockchain initiatives, including the stablecoin JPM Coin. As part of Onyx, the parent team, among other things, tested blockchain payments in Earth orbit.
  • Over the years of development, many financial instruments have appeared in various JPMorgans. In particular, the organization’s developers have established services for cross-border transfers. JPMorgan’s suite of tools enables holdings to offer services to improve payment systems to other market participants.
  • This is not the first time the Siemens team has shown an interest in high technology. Previously, the company, among other things, studied the possibility of using blockchain for the development of “smart” energy networks.

We will remind you, recently that information appeared on the network that JPMorgan is negotiating the purchase of a European neobank.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Post