---
title: "JPMorgan Coin Gets Programmable Payments, FedEx Among Early Adopters"
url: https://diffcoin.com/jpmorgan-coin-gets-programmable-payments-fedex-among-early-adopters/
description: "JPMorgan's new programmable payments via JPM Coin allow corporate clients like Siemens and FedEx to set conditional triggers for transfers."
published: 2023-11-10
updated: 2023-11-10
author: "Mila"
site: "Diffcoin"
---

# JPMorgan Coin Gets Programmable Payments, FedEx Among Early Adopters

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JPMorgan Chase’s proprietary digital token, JPM Coin, has added new programmable capabilities that allow corporate clients to set conditional triggers for payments. Early adopters of this feature include German industrial giant Siemens and shipping company FedEx.

> “When we talk about digital currencies and tokenized deposits, the holy grail has always been the ability to program payments,” said Naveen Mallela, head of Coin Systems at JPMorgan’s blockchain division Onyx.

With programmable payments, companies can configure their accounts to automatically transfer funds if certain preset conditions are met, like overdue invoices or margin calls. This removes the need for standing payment orders at fixed times or amounts. Instead, transfers can happen instantly whenever the predefined rules are triggered.

According to Mallela, Siemens used programmable payments this week to set up contingency fund transfers. FedEx and agricultural conglomerate Cargill also plan to use the feature soon.

The new functionality builds on JPM Coin’s existing ability to facilitate real-time money transfers between JPMorgan accounts globally. Launched in 2019, the digital token runs on the bank’s permissioned Ethereum-based blockchain called Onyx. It has seen rapid adoption, reportedly handling $1 billion in daily transfers.

JPMorgan has aggressively pursued blockchain, tokenization, and other crypto-related projects. Its Onyx platform also supports trading tokenized securities. The bank recently helped major clients like Goldman Sachs and BNP Paribas process almost $700 billion in tokenized Treasuries and US dollars.

Last month, JPMorgan’s Onyx and TCN platforms enabled BlackRock to tokenize money market fund shares, which Barclays then accepted as collateral for an over-the-counter derivatives contract.

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