{"id":80695,"date":"2023-06-23T17:40:00","date_gmt":"2023-06-23T14:40:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80695"},"modified":"2025-09-11T18:30:51","modified_gmt":"2025-09-11T15:30:51","slug":"siemens-processes-euro-payments-with-jpm-coin-from-jpmorgan","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/siemens-processes-euro-payments-with-jpm-coin-from-jpmorgan\/","title":{"rendered":"Siemens processes euro payments with JPM Coin from JPMorgan"},"content":{"rendered":"<p>JPMorgan, a financial conglomerate, has offered <a href=\"https:\/\/forklog.com\/en\/news\/what-are-stablecoins\">stablecoin<\/a> JPM Coin for euro transactions. The first client was Siemens, the German industrial conglomerate, Bloomberg reports.<\/p>\n<p>The blockchain payments platform, oriented toward corporate clients, previously operated only in US dollars.<\/p>\n<p>The system enables wholesale transactions in EUR and USD to and from JPMorgan accounts across jurisdictions, 24\/7. This contrasts with traditional banking operations, which are processed only during business hours and take several days.<\/p>\n<p>According to Basak Toprak, head of the coin-based systems division in the <span data-descr=\"Europe, the Middle East and Africa\" class=\"old_tooltip\">EMEA<\/span> region, the use of JPM Coin allows corporations to earn higher interest on deposits. She pointed to improved liquidity management. In particular, <span data-descr=\"CFO\" class=\"old_tooltip\">CFO<\/span> can initiate payments shortly before their due date.<\/p>\n<p>Since the project launch, JPMorgan has processed about $300 billion in JPM Coin transactions. By contrast, the group processes about $10 trillion in payments daily.<\/p>\n<p>The stablecoin is part of the Onyx blockchain-based platform. It <a href=\"https:\/\/forklog.io\/jpmorgan-provel-testovuyu-sdelku-repo-s-ispolzovaniem-stejblkoina-jpm-coin\/\">\u0437\u0430\u043f\u0443\u0441\u0442\u0438\u043b\u0438<\/a> in 2020 with the aim of improving the quality of wholesale transfers. By April 2023, with Onyx, the bank issued short-term loans amounting to about $700 billion.<\/p>\n<p>In June 2023, JPMorgan<a href=\"https:\/\/forklog.com\/en\/news\/jpmorgan-to-speed-up-interbank-settlements-in-india-using-blockchain\"> entered into an agreement<\/a> with six Indian financial institutions to implement a blockchain-based settlement platform.<\/p>\n<p>In May 2022, the French conglomerate BNP Paribas <a href=\"https:\/\/forklog.com\/en\/news\/bnp-paribas-joins-jpmorgans-onyx-network-according-to-reports\"> joined<\/a> the Onyx network for deals with tokenised bonds.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JPMorgan offered JPM Coin stablecoin for euro transactions. The first client was Siemens, the German industrial conglomerate.<\/p>\n","protected":false},"author":1,"featured_media":80696,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,83,1881,229,807],"class_list":["post-80695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-business","tag-enterprise-blockchain","tag-jpmorgan","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"35","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80695","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=80695"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80695\/revisions"}],"predecessor-version":[{"id":80697,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80695\/revisions\/80697"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/80696"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=80695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=80695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=80695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}