Mitsubishi adopts JPMorgan blockchain for corporate payments
Mitsubishi Corporation plans to use a blockchain-based payment system developed by JPMorgan Chase to move funds across its global operations, signaling continued adoption of blockchain infrastructure within traditional finance.
The system is part of JPMorgan’s blockchain network, known as Kinexys, which enables near-instant fund transfers, reduces reliance on traditional banking and operates around the clock, according to a report by Nikkei.
JPMorgan is seeking to scale the platform to $10 billion in daily transactions from the current average of $7 billion. Kinexys has processed more than $3 trillion in cumulative volume since launching in 2020, highlighting growing institutional demand for blockchain-based settlement systems.
The adoption is notable given Mitsubishi’s scale as one of Japan’s largest trading and industrial companies, with extensive global operations spanning energy, manufacturing and logistics. Last year, the company produced more than 883,000 vehicles.
Kinexys has also attracted other major clients, including Qatar National Bank (QNB) Group, one of the region’s largest lenders, which announced in September that it would use the platform to process corporate payments. At the time, QNB executive Kamel Moris said Kinexys can “guarantee payments as fast as two minutes.”
Related: BitGo expands Canton Coin services with trading, onchain settlement
Kinexys expands focus to tokenization
Despite CEO Jamie Dimon’s long-standing skepticism toward cryptocurrencies, JPMorgan has steadily expanded its blockchain infrastructure — a push underscored by Mitsubishi’s adoption of its Kinexys network.
Kinexys itself extends beyond payments. JPMorgan is developing a tokenization platform, Kinexys Fund Flow, aimed at asset classes such as private credit and real estate, with rollout expected this year.
Kinexys targets the $6 billion tokenized credit market. Source:
RWA.xyz
The bank is not alone. BlackRock has launched tokenized funds, while Franklin Templeton operates a blockchain-based money market fund. Meanwhile, German industrial giant Siemens has issued digital bonds on blockchain rails, signaling growing institutional interest in tokenization.
Industry players are increasingly positioning for tokenization in the United States, as improving regulatory clarity and infrastructure development are reshaping market structure. As Cointelegraph recently reported, both Nasdaq and the New York Stock Exchange have moved to incorporate tokenization into alternative trading systems, signaling a shift toward blockchain-based settlement rails.
Related: Crypto Biz: Stablecoin jitters meet institutional momentum
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Classic never goes out of style! Berkshire plans to increase holdings in Japan's five major trading companies, "Strong cash flow + dividends + buybacks" firmly lock in long-term capital
According to Masahiro Okafuji, Chairman of the Japan Foreign Trade Association, Berkshire Hathaway is considering increasing its stake in Japanese trading companies. Berkshire Hathaway holds more than 10% of shares in Mitsubishi Corporation, Sumitomo Corporation, Mitsui & Co., Marubeni Corporation, and Itochu Corporation, and may further increase its stakes in these companies.
Fed Rate Hike Implemented, Asia-Pacific Stock Markets Strengthen, Topix Index Rises 1%, Bond Market Under Pressure, Gold and Silver Rebound
After the market digested the impact of interest rate hikes, US stock index futures stabilized first after hours, providing support for sentiment in Asia-Pacific markets. The Nikkei 225 Index opened up by as much as 0.9%, but later pared gains to 0.18%. Major Korean stock indices also opened higher but then retreated. Australia's 10-year government bond yield edged down by 2 basis points. Gold prices rebounded by 0.3%, approaching the $4,300 mark.
Elon Musk sleeps at construction site! Going all out for AI infrastructure
AI investment frenzy ready for another surge? With the Fed rate hike decision settled, reverse buying appears as US Treasury bonds face their "most painful moment"
Bob Michele from JPMorgan Asset Management stated that his team has started buying long-term bonds from the United States, Japan, and Australia, saying that current prices are "simply too cheap." Michele believes that a series of central bank actions and potential stabilization trends in the Middle East are key driving factors supporting the debt market.
Crypto prices
More
