JPMorgan has introduced programmable payments for institutional clients using its private blockchain platform JPM Coin. The new functionality allows automated, event-driven transactions.
JPM Coin’s head of platform Onyx called programmability the “holy grail” for their blockchain. The feature caters to smart contracts on JPM Coin’s ledger.
Users can set up conditional “if-then” payments based on events and triggers. This enables automated workflows for treasury operations, contract payouts, margin calls, and more.
JPMorgan touts it as the first such programmable solution offered by a major commercial bank. Early institutional clients include Siemens, FedEx, and Cargill.
The development builds on JPM Coin’s past growth since its 2019 launch. The bank continues working to leverage blockchain advantages through offerings like programmable payments.
The new functionality highlights increasing convergence of crypto capabilities with traditional finance. As adoption grows, banks are poised to drive innovation in blockchain payments.
#JPMorgan #JPMCoin #Blockchain #Payments #Institutional
