Onyx by JP Morgan has launched programmable payments for blockchain-based accounts on JPM Coin. The solution allows users to use a ‘If-This-Then-That’ interface to program their transactions.
-Programmable payments allows users to branch out beyond the limitations and rules applied to their transactions, accessible through a new portal on JP Morgan Payment’s online treasury portal, JPM ACCESS.
-Siemens AG completed its first payment using the feature, and FedEx and Cargill will be going live with the solution in the next few weeks.
-Customers can control their JPM Coin accounts in new ways such as dynamic funding
What does this mean?
Naveen Mallela, head of coin systems at Onyx by J.P. Morgan, commented, “Programmability has been a key objective for digital currencies and tokenised money since the beginning. Our new offering makes payments programmable ushering in the era of dynamic and event driven infrastructure in the industry. This is an important milestone and foundational for real-time, automated and programmable treasury.”