5 min read
Key takeaways
- International investors faced high fees and a disjointed user experience when trying to invest in art through Masterworks, leading to abandoned transactions and limited global accessibility
- J.P. Morgan Payments crafted a solution centered on the Access® FX Merchant API to display real-time prices in local currencies and enables payments to be automatically processed over local payment rails
- This solution created a frictionless investment experience for international users, increased completed transactions in euros and British pounds, and reduced operational overhead through automation
About
Masterworks is transforming the way people invest in fine art. Through its platform, people around the world can build investment portfolios across world-class artwork. Masterworks has grown into one of the largest players in the art market with over $1 billion collectively invested by over 150 countries across nearly 450 paintings.1
However, investors transacting in foreign currencies faced a series of challenges. Many had to contend with complex currency conversions and high wire fees.2 That’s when Masterworks turned to J.P. Morgan Payments. Together, they built a custom, in-app solution that presents Masterworks’ users with local currency prices and allows them to pay with local currency payment rails—making it as easy to transact with Masterworks as it is to shop online.
The opportunity
Masterworks uses technology to democratize access to world-class fine art that was historically limited to wealthy collectors. However, investors wishing to pay in euros or British pounds found it prohibitively expensive and challenging to complete their transactions.2 High wire transfer, credit card and foreign currency exchange fees, as well as a disjointed app experience, led to abandoned transactions. Additionally, many individual investors struggled with complex international payment methods like wire transfers. Some international banks couldn’t process transactions in U.S. dollars. Even when funds did clear, the lack of straight-through processing created manual pain points for Masterworks’ payment operations teams.2
Masterworks approached J.P. Morgan Payments for a solution. Masterworks wanted to display prices in local currencies and process payments from local bank accounts automatically and with straight-through processing for its internal teams.2 The goal was to make investing just as easy for someone in London or Paris as it was for someone in New York.
“We needed a frictionless experience for our investors, so we turned to J.P. Morgan Payments. J.P. Morgan Payments facilitated inbound payments in local currencies across Europe and the U.K., creating an uplift in payment completion rates. This has benefited our investors and process efficiency.”
Nigel Glenday
Chief Financial Officer at Masterworks
The solution
Masterworks turns each artwork purchased into investible shares through an SEC-qualified offering and works closely with investors, through its advisory affiliate, to build portfolios across artworks.3 Masterworks then manages the artwork, including insurance, storage, conservation and public display, until the artwork is resold and proceeds are returned to investors.
To simplify payments for international users, J.P. Morgan Payments created a fully automated, first-of-its-kind solution centered on its Access® FX Merchant API, which integrates with Masterworks’ platform.4 When international investors complete transactions with Masterworks, they see prices in their local currency through real-time exchange rates from J.P. Morgan Payments. This makes it simple for investors to understand exactly how much they’re spending in their local currency before they commit to a purchase.
When an investor decides to complete a transaction, they connect to their local bank account through a third-party payment provider. After approving the payment in their local currency, Masterworks automatically conducts a currency exchange with J.P. Morgan Payments. The funds are converted to U.S. dollars and settled the next business day, then automatically distributed to the artwork’s investment account. This end-to-end integration combines a completely in-app user experience, local payment rail processing, automated currency exchange and multibank settlement into one workflow.4
The results
The solution has transformed Masterworks’ international business operations. The entire process requires no human intervention, from the initial pricing display to the final settlement. By removing manual processes and reducing currency conversion costs, Masterworks has seen an increase in completed transactions in euros and British pounds since the solution went live.4 According to Glenday, this automated approach has reduced operational overhead while creating a smoother experience for investors.
Masterworks has demonstrated how modern payment technology can transform an investment platform. By integrating global financial capabilities from J.P. Morgan Payments with a novel payment workflow, Masterworks is making fine art investments simple.
With a proven model for handling cross-border payments, Masterworks is exploring new ways to make its platform more accessible to people worldwide. “Our success with J.P. Morgan's solution has spurred innovation across our organization,” says Glenday. “Now, we're actively exploring several payment solutions driven by our core objective: making art investing as seamless and accessible as possible for investors worldwide.”
To learn more, visit Cross-Currency Solutions.
Disclaimer
© 2025 JPMorgan Chase & Co. All rights reserved. JPMorgan Chase Bank, N.A. Member FDIC. Deposits held in non-U.S. branches are not FDIC insured. Non-deposit products are not FDIC insured. The statements herein are confidential and proprietary and not intended to be legally binding. Not all products and services are available in all geographical areas. Visit jpmorgan.com/paymentsdisclosure for further disclosures and disclaimers related to this content.
JP Morgan receives cash compensation from Masterworks. Masterworks is a client of JP Morgan.
Public content authored by Masterworks is intended for U.S. audiences only and may not be applicable to all countries. Masterworks does not actively solicit investment from foreign investors.
This content is for informational purposes only and is not an investment solicitation or offer of securities. Masterworks can only make and accept sales after an offering statement has been filed, and “qualified,” by the SEC. Any offers may be revoked before notice of qualification. Indications of interest involve no obligation. For further disclosure from Masterworks on Regulation A Offerings, Risks of Investing, Endorsements & Testimonials, Performance Metrics and more, visit the offering documents filed with the SEC and Important Disclosures at masterworks.com/cd.
