JP Morgan revealed that Ant International, the affiliate of China’s Alipay, has processed billions of dollars in transactions using JPM Coin. The revelation came as part of a whitepaper on programmable payments released by Onyx by JP Morgan and the MIT Digital Currency Initiative.
Ant supports payments for 1.2 billion buyers and 2 million sellers in over 200 countries. Both Siemens and Ant use the JPM Coin blockchain-based bank accounts for their internal treasury functions. Ant’s in-house system monitors liquidity usage in real time across the globe and triggers payment instructions accordingly. Typically any excess funds will be parked in higher yielding instruments.
The company has its own Treasury Management System that combines blockchain and AI programmable triggers. However, it uses blockchain technology that is different from JPM Coin, so they communicate using APIs.
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