JPMorgan Chase JPM Coin allows customers to make pre-programmed transfers of account funds

JPMorgan’s JPM Coin now allows clients to program their accounts by entering a series of key conditions, allowing them to move funds to cover overdue payments and margin calls, helping them trade on exchange rate differences. Germany's Siemens AG has already been using the system this week, configuring its accounts to fill potential gaps so that they don't have to set standing orders for specific times or amounts, but instead activate when pre-programmed criteria are met. FedEx and Cargill plan to use the system in the coming weeks. (Bloomberg) Previously, in October, Takis Georgakopoulos, head of global payments at JPMorgan Chase, said that JPMorgan Chase’s blockchain-based payment system JPM Coin now handles transactions worth $1 billion every day, and the bank plans to continue to expand its use. It is reported that JPM Coin enables wholesale customers to make U.S. dollar and euro-denominated payments through a private blockchain network. The company also runs a blockchain-based repo application and is exploring a digital deposit token to speed up cross-border settlements.