On Monday Siemens was the first JP Morgan client to use the new programmable payment functionality of JPM Coin, the blockchain-based bank account.
Programmable payments allow a wider range of rules than conventional conditional payments. JP Morgan provides a new “If-This-Then-That” interface via its online treasury portal.
“This will take Siemens to the next level of automation to not only optimize the use of working capital but also enable data-driven digital business models and support the scalability of our Siemens business from the treasury side,” said Dr. Peter Rathgeb, Group Treasurer of Siemens AG.
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