Kyriba announced it will be using Onyx, J.P. Morgan’s blockchain business unit, to improve cash management, payments and liquidity performance for CFOs and Treasurers to tackle disconnected systems and ongoing liquidity uncertainty.
Together with Onyx’s Blockchain Deposit Account product, JPM Coin, Kyriba leverages the power of blockchain and efficiency of real-time payment processing to increase end-to-end payments transparency. For the first time, customers can operate their JPM Coin Blockchain Deposit Accounts (BDAs) within Kyriba’s treasury management system (TMS), enabling treasury teams to facilitate real-time cross-border transfers on a permissioned distributed ledger.
The cross-border payment solution is complemented by real-time payments and real-time bank reporting through the J.P. Morgan’s Global Payments API, available within the Kyriba Marketplace.
“Our mutual clients can leverage blockchain technology and conduct cross-border commerce with speed, transparency, and added certainty through the JPM Coin integration,” said Abhinav Natarajan, global product head of JPM Coin, in a statement. “By integrating our Blockchain Deposit Accounts into their existing TMS workflows, clients can initiate and manage real-time settlements, unlocking the potential of 24/7 money movement.