Mitsubishi Corporation has announced plans to adopt a blockchain-based payment system developed by JPMorgan Chase to manage fund transfers across its worldwide operations. The move signals continued integration of blockchain infrastructure within traditional financial systems. The platform, known as Kinexys, enables near-instant transfers, reduces dependence on conventional banking channels, and operates continuously around the clock, according to a report by Nikkei.
Kinexys has processed more than $3 trillion in cumulative transaction volume since its launch in 2020, reflecting growing institutional appetite for blockchain-based settlement solutions. JPMorgan is currently targeting a scale-up of the platform to $10 billion in daily transactions, up from its present average of $7 billion. The figures underscore the rapid expansion of the network since its inception.
Mitsubishi’s adoption carries particular weight given the company’s position as one of Japan’s largest trading and industrial conglomerates, with operations spanning energy, manufacturing, and logistics. The company produced more than 883,000 vehicles last year alone. Its embrace of the Kinexys network adds a significant institutional name to the platform’s growing client roster.
Kinexys has also drawn interest from major financial institutions in other regions. Qatar National Bank (QNB) Group, one of the largest lenders in the Middle East, announced in September that it would use the platform to process corporate payments. QNB executive Kamel Moris stated at the time that Kinexys can “guarantee payments as fast as two minutes.”
The expansion of Kinexys is notable in the context of JPMorgan CEO Jamie Dimon‘s long-standing skepticism toward cryptocurrencies. Despite those reservations, the bank has steadily built out its blockchain infrastructure over recent years. Kinexys itself extends beyond payments, with JPMorgan developing a tokenization platform called Kinexys Fund Flow, targeting asset classes such as private credit and real estate, with a rollout expected later this year.
JPMorgan is not the only major institution moving in this direction. BlackRock has launched tokenized funds, while Franklin Templeton operates a blockchain-based money market fund. German industrial company Siemens has issued digital bonds on blockchain infrastructure, further illustrating the breadth of institutional interest in tokenization across sectors.
In the United States, improving regulatory clarity and ongoing infrastructure development are reshaping how financial markets approach blockchain-based settlement. Both Nasdaq and the New York Stock Exchange have taken steps to incorporate tokenization into alternative trading systems, pointing toward a broader structural shift in how assets are settled and transferred across markets.
Originally reported by CoinTelegraph.
