Mitsubishi plans to use JPMorgan’s Kinexys network for global payments as the bank targets $10 billion in daily blockchain transaction volume.
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.
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