Mitsubishi Corporation will use JPMorgan Chase's blockchain-based payment system to move funds across global operations, signaling major adoption of blockchain infrastructure in traditional finance.
The system operates through JPMorgan's Kinexys network, enabling near-instant fund transfers while reducing reliance on traditional banking channels. The platform processes over $3 trillion cumulatively since 2020 and averages $7 billion in daily transactions.
JPMorgan seeks to scale Kinexys to $10 billion in daily volume. The platform has attracted other major clients including Qatar National Bank Group, which processes corporate payments with transfer times as fast as two minutes.
Mitsubishi represents significant adoption given its scale as one of Japan's largest trading companies with operations spanning energy, manufacturing, and logistics. The Tokyo-based firm produced over 883,000 vehicles last year.
JPMorgan also develops Kinexys Fund Flow, a tokenization platform targeting private credit and real estate asset classes. Industry giants BlackRock and Franklin Templeton have launched similar blockchain-based funds, indicating broad institutional movement toward tokenization.