Mitsubishi Corporation will use JPMorgan Chase’s Kinexys blockchain payment system to move funds across its global operations, marking another major corporate adoption of institutional blockchain infrastructure, Nikkei reported. The Kinexys network enables near-instant transfers, reduces reliance on traditional banking rails and operates around the clock.
JPMorgan is targeting growth of Kinexys to $10 billion in daily transactions from an average of about $7 billion today. Since launching in 2020, the platform has processed more than $3 trillion in cumulative volume, underscoring growing institutional demand for blockchain-based settlement systems.
Mitsubishi is one of Japan’s largest trading and industrial companies, with wide-reaching activities in energy, manufacturing and logistics, making its move notable for scale and geographic reach. Kinexys has already attracted other major clients, including Qatar National Bank (QNB) Group, which said the platform can “guarantee payments as fast as two minutes.”
Beyond payments, JPMorgan is expanding Kinexys into tokenization. The bank is developing Kinexys Fund Flow, a tokenization platform aimed at asset classes such as private credit and real estate, with a rollout expected this year. The bank’s push into tokenization continues even as CEO Jamie Dimon has expressed skepticism toward cryptocurrencies.
Other large institutions are also pursuing tokenization: BlackRock has launched tokenized funds, Franklin Templeton runs a blockchain-based money market fund, and Siemens has issued digital bonds on blockchain rails. In the U.S., improving regulatory clarity and infrastructure development have prompted exchanges like Nasdaq and the New York Stock Exchange to incorporate tokenization into alternative trading systems, signaling a broader shift toward blockchain settlement rails.
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