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. 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. Kinexys has also attracted other major clients, including Qatar National Bank (QNB) Group, which announced it would use the platform to process corporate payments. At the time, QNB executive Kamel Moris said Kinexys can “guarantee payments as fast as two minutes.” Kinexys expands focus to tokenization.
Despite JPMorgan’s long-standing skepticism toward cryptocurrencies, JPMorgan has steadily expanded its blockchain infrastructure — a push underscored by Mitsubishi’s adoption of its Kinexys network. Kinexys itself extends beyond payments. JPMorgan is developing a tokenization platform, Kinexys Fund Flow, aimed at asset classes such as private credit and real estate, with rollout expected this year. BlackRock has launched tokenized funds, while Franklin Templeton operates a blockchain-based money market fund.
Siemens has issued digital bonds on blockchain rails, signaling growing institutional interest in tokenization. Industry players are positioning for tokenization in the United States as regulatory clarity and infrastructure development reshape market structure. Nasdaq and the New York Stock Exchange have moved to incorporate tokenization into alternative trading systems, signaling a shift toward blockchain-based settlement rails.
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