France’s BNP Paribas said Wednesday it has processed several live payments for two of its longstanding corporate clients, Amcor, a provider of packaging solutions and Panini Group, an international dealer in collectibles and trading cards.

BNP Paribas successfully utilized blockchain technology to process and clear payments in various currencies between BNP Paribas bank accounts located in Germany, the Netherlands and the United Kingdom for Panini Group and Amcor, the French multinational bank said.

The payments were fully processed and cleared in a few minutes highlighting the real potential of this innovative technology which eliminates delays, unexpected fees and processing errors, paving the way for real time cash management.

“Blockchain technology applied to cross-border payments offers an innovative way of processing in near-real-time high-value transactions between different companies,” said Panini Group Treasurer, Fabrizio Masinelli in a prepared statement.  

“This proof-of-concept shows how powerful such technology can be and how it can be utilized as an effective and efficient response to the main issues that treasurers face on a daily basis,” he added.