2 financial giants join forces to improve blockchain payments across countries

As blockchain continues to disrupt existing payment systems, two financial giants are looking to leverage the technology to improve cross-border transactions.

Cryptocurrencies are a solution for consumers who want to make financial transactions across different borders more efficient in terms of speed and cost. JPMorgan and Visa recognize this and are working together to streamline the use of Liink and B2B Connect – both private blockchain applications.

“According to an Oct. 11 report from Forbes, JPMorgan’s Liink is a network specifically designed for cross-border transfers and offered under the bank’s blockchain and payments initiative, Onyx,” explained a Cointelegraph article. “Onyx provides a platform for institutions to share financial information and validate transactions.”

“Visa’s B2B Connect is a similar network to Liink that was built for institutional use and is now integrated with Onyx’s Confirm,” the article added.

This is a good example of how blockchain technology can be used by large financial organizations, while highlighting adoption and/or integration. As opposed to going against the flow of disruption, JPMorgan and Visa are working on innovative technologies like blockchain, which can only help fuel growth.

Take advantage of Blockchain growth

Investors looking for active strategy opportunities in blockchain technology can look to exchange-traded funds (ETFs). Special Amplify Transformational Data Sharing ETF (BLOK) is an option to consider.

The fund has an active management strategy that can flex with market movements by placing holdings in the hands of experienced portfolio managers. BLOK adds diversified exposure and cryptocurrency exposure without investing in the currencies themselves.

While the majority of the fund (75%) contains holdings in North America-based companies, the fund also adds a touch of diversification with holdings in Western Europe and Asia-Pacific. This means that the fund can gain exposure to growth opportunities abroad where blockchain technology can be used to its full extent.

The fund invests in companies that collaborate with or invest directly in companies that use and develop blockchain technology, the technology behind cryptocurrencies such as bitcoin.

Summary of BLOK’s features per product website:

• Global equity portfolio of professionally selected companies involved in blockchain technology and indirect crypto exposure.
• An active management approach can enable the fund to remain flexible, make timely decisions and identify companies best positioned to profit from the evolving blockchain technology space.
• Convenience and transparency of the ETF structure.

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