By leveraging the use of J.P. Morgan’s blockchain deposit accounts, Cargill gained the ability to facilitate and automate fund movements, 24/7, real-time across its bank accounts held in different bank branches.

Through programmable payments, a feature of blockchain deposit accounts, Cargill can design a customised workflow that incorporates specific triggers and conditions for executing funding transfers between their treasury hubs. For example, Cargill has scheduled a time-based, target balance transfer of funds from Singapore to New York for global consolidation of funds after Singapore close of business day. Similarly, Cargill can tap on the accounts to facilitate funding of shortfall positions in Singapore accounts by transferring balances from New York to Singapore, at the start of the next Singapore business day. Such cross-border funding transfers are made effective via the JPM Coin System, allowing Cargill to transact across time zones almost real-time, optimising liquidity across bank accounts held globally.

During Q224, Cargill successfully facilitated transactions exceeding US$1.2bn optimising working capital and interest. As the inevitable digital transformation of the financial industry takes place over the coming years, the early adoption of this technology puts Cargill in an advantageous position to influence the development of the solution and future innovation. This allows Cargill to be more prepared to capture the benefits of digitalisation of payments and financial assets in the future.