Cryptocurrency market maker B2C2 and industrial giant Siemens are using Kinexys, JPMorgan’s blockchain network, to improve their financial operations. Thomas Restout, CEO of B2C2, stated that the integration “provides the ability to move cash 24/7, seamlessly,” optimizing risk management, especially during weekend volatility. For his part, Heiko Nix, global head of cash management at Siemens, highlighted that the platform simplifies real-time FX (foreign exchange) transactions.
The use of JPMorgan’s blockchain by these corporations highlights a growing trend towards using DLT infrastructure to modernize liquidity management. The system allows B2C2 to overcome the restrictions of traditional banking rails, which close on weekends, enabling them to deploy capital when crypto markets are most active.
Although Kinexys, launched in 2019, processes $3 billion daily (a fraction of the $10 trillion JPM moves in total), its use is expanding. Last month, Trimont LLC, which manages $730 billion, also began using the network to reduce loan payment times from days to minutes. It remains to be seen if the adoption of JPMorgan’s blockchain will continue to scale as more firms seek 24/7 operational efficiency.
Disclaimer: Crypto Economy’s Flash News is produced from official and public sources verified by our editorial team. Its purpose is to quickly inform about relevant events in the crypto and blockchain ecosystem. This information does not constitute financial advice or investment recommendation. We always recommend verifying the official channels of each project before making related decisions.
