Cross-border payments

Payments between accounts on the same network arrive in seconds instead of days. This works today within one bank's network (J.P. Morgan, Citi, HSBC) or among banks on a shared network such as Partior. Across the whole banking system it needs many banks and currencies on connected ledgers.

Average settlement about 80 seconds across 30 real-value payments in six currencies (BIS Project Agorá, July 2026) Operator-reported^[7]

Needs counterparties on the ledgerNeeds cash on the ledgerNeeds connected ledgers

• Kinexys Digital Payments (blockchain deposit accounts): J.P. Morgan reports that Siemens has completed near-instant cross-border payments that convert US dollars to euros on its Kinexys blockchain deposit accounts, and that B2C2 has also settled USD to EUR on-chain. No settlement times or volumes for these flows are published; the speed claim is the bank's own.^[8]
• Partior cross-border clearing and settlement: After a live US dollar transaction settled through J.P. Morgan, Emirates NBD began offering real-time cross-border dollar payments over Partior to its corporate and institutional clients, the first bank in the region to do so. Partior cites faster settlement and better transparency; it gives no timings or volumes.^[9]

Companies can move money between countries in the evening, at weekends and on public holidays, instead of waiting for banks to reopen. This is the most visible gain clients report today.

Kinexys handles about $7 billion a day on average across all its payments, not only cross-border Operator-reported^[11]

Needs cash on the ledgerNeeds counterparties on the ledger

• Citi Token Services for Cash: Citi says clients of its tokenised deposit service can move funds near instantly between its locations in seven markets without being limited by cut-off times or holiday calendars, and that the service processes billions of dollars. Japan (US dollars) and the UAE (dollars and euros) were added in September 2026. No exact volume is given.^[10]
• HSBC Tokenised Deposit Service: HSBC says eligible corporate and institutional clients can move funds 24/7, at home and across borders, including from treasury centres to subsidiaries, with settlement on its ledger and better real-time sight of cash positions. The service covers the US, UK, Hong Kong, Singapore and Luxembourg in five currencies at the time of the release. No volumes or client numbers are given.^[12]
• Kinexys Digital Payments (blockchain deposit accounts): BMW moved money from euros in Frankfurt to dollars in New York between its own Kinexys accounts outside traditional settlement windows and without manual intervention; J.P. Morgan describes the FX settlement as running 24/7/365. No timings or amounts were disclosed.^[13]
• Visa stablecoin settlement for issuers and acquirers: Cross River Bank and Lead Bank began settling what they owe to, or are owed by, Visa in USDC over Solana in December 2025. Visa says this gives issuers and acquirers access to settlement seven days a week, including weekends and holidays, instead of the traditional five-business-day window. Visa still calls it a pilot for selected US partners.^[14]

On stablecoin networks the sending and receiving firms can settle with each other directly, without a chain of correspondent banks. On shared bank platforms the chain shrinks to one integrated step.

Needs counterparties on the ledger

• Circle Payments Network (CPN): On Circle's payments network a sending payment firm pays the receiving firm directly in USDC on a public blockchain, and the receiver pays out in local currency, for example via PIX in Brazil or SPEI in Mexico. Circle says it coordinates the payment but does not hold funds, so no correspondent bank chain sits between the two institutions. No fee or speed figures are given.^[15]

If money can be moved to a country the moment it is needed, firms can keep less cash pre-funded in accounts abroad. Evidence so far is a single customer statement; the gain grows as more counterparties accept tokenised money.

Needs counterparties on the ledgerNeeds cash on the ledgerNeeds regulatory change

• Ripple Payments cross-border settlement: In Ripple's March 2026 release, payments firm Corpay says it uses the RLUSD stablecoin through Ripple Payments to fund and settle positions in Asia-Pacific, removing the need for costly pre-funding of local accounts. This is a customer statement in a vendor release; no amounts are given.^[5]

Treasury teams can set rules in advance, such as "top up the New York account in dollars when it falls below a level", and the network carries out the transfer and currency exchange automatically.

Needs smart contracts

• Kinexys Digital Payments (blockchain deposit accounts): BMW's German and US treasury teams set rules in advance, and when those conditions were met the network checked balances, topped up accounts and converted euros to dollars between Frankfurt and New York automatically, which J.P. Morgan calls the first fully pre-programmed FX transaction on the service. No amounts were disclosed.^[13]