Mitsubishi taps JPMorgan blockchain for global payments

Mitsubishi Corporation plans to adopt JPMorgan’s Kinexys blockchain network to facilitate near-instant global payments across its operations, signalling deeper integration of blockchain in traditional finance.

The Kinexys platform enables round-the-clock transfers while reducing reliance on legacy banking rails, with JPMorgan aiming to scale daily transaction volumes from $7 billion to $10 billion.

Kinexys has processed more than $3 trillion in cumulative transactions since its 2020 launch, reflecting accelerating institutional demand for blockchain-based settlement systems.

The adoption underscores Mitsubishi’s scale as one of Japan’s largest industrial and trading firms, with operations spanning energy, manufacturing and logistics and annual vehicle production exceeding 883,000 units.

Kinexys has also attracted major financial institutions including Qatar National Bank Group, where executive Kamel Moris said the platform can “guarantee payments as fast as two minutes.”

JPMorgan continues expanding its blockchain strategy despite CEO Jamie Dimon’s scepticism toward cryptocurrencies, with Kinexys forming part of a broader push into tokenisation and digital asset infrastructure.

The bank is developing its Kinexys Fund Flow tokenisation platform targeting private credit and real estate, as firms such as BlackRock, Franklin Templeton and Siemens advance similar blockchain-based initiatives across capital markets.