JPMorgan Chase & Co.'s treasury services business announced several new payment services Monday.
One service allows clients to make high-value payments in new currencies: U.K. sterling, Chinese renminbi, Mexican peso and Saudi riyal, with JPMorgan Chase acting as the direct clearer to improve speed. JPMorgan Chase has already handled other currencies in this manner, including the Brazilian real and Russian ruble.
JPMorgan Chase has also launched an indirect clearing service for the euro.
The company announced plans to expand its platform for cash accounts called International Demand Deposit Accounts. The system is live in eight countries in Europe and Asia, and JPMorgan Chase expects to offer it in new markets in early 2012.
"It is imperative to continue to invest in treasury services to ensure our … service and technology are market leading and best meet our clients' needs," Donald McCree, the chief executive of JPMorgan Chase's treasury services business, said in a press release.
