TLDR
- Mitsubishi Corporation has joined JPMorgan’s Kinexys blockchain payment network
- Kinexys has processed over $3 trillion in transactions since launching in 2020
- JPMorgan wants to grow daily transactions from $7 billion to $10 billion
- Kinexys serves hundreds of clients across five continents
- JPMorgan is also developing a tokenization platform targeting private credit and real estate
Mitsubishi Corporation has become the first Japanese company to join JPMorgan’s blockchain-based payment network, Kinexys. The move was confirmed by both companies and reported by Nikkei.
🚨 UPDATE: JPMorgan doubles down on blockchain, teaming up with Mitsubishi as Kinexys crosses $3T processedand eyes $10B/day flows.@jpmorgan @MHI_Group pic.twitter.com/vnbxFSupkH
— The Crypto Times (@CryptoTimes_io) March 30, 2026
Kinexys allows near-instant fund transfers, runs 24 hours a day, and reduces the need for traditional banking intermediaries. It was originally launched in 2020 under the name Onyx.
Since launch, the platform has processed more than $3 trillion in total transactions. Daily volume currently averages around $7 billion across hundreds of clients on five continents.
Zack Chestnut, global head of business development for Kinexys, said the company wants to push that number higher. “We would be pleased but not satisfied to see daily transaction value get above $10 billion per day in the foreseeable future,” he said.
Mitsubishi’s treasurer, Kazuyoshi Kawakami, explained why the company chose Kinexys. “It is essential that funds raised in the market and cash generated across our operations can be allocated efficiently throughout our consolidated group,” he said in a statement.
Kinexys uses a deposit token called JPMD. Like a stablecoin, it allows fast and cheap payments. Unlike a stablecoin, it represents funds held in a bank account and can move between accounts on and off the blockchain without intermediaries.
Qatar National Bank signed up to use Kinexys in September 2024. At the time, QNB executive Kamel Moris said the network can “guarantee payments as fast as two minutes.”
Kinexys Moves Into Tokenization
JPMorgan is also building a tokenization platform called Kinexys Fund Flow. It targets asset classes like private credit and real estate, with a rollout expected this year.
The bank is entering a tokenized credit market estimated at $6 billion. BlackRock and Franklin Templeton have launched tokenized funds of their own. Siemens has issued digital bonds on blockchain rails.
Nasdaq and the New York Stock Exchange have also moved to incorporate tokenization into their trading systems, according to recent reports.
Wall Street’s Blockchain Push
JPMorgan’s blockchain expansion is part of a wider trend among traditional financial firms. PayPal launched a stablecoin in 2023. Mastercard has built a crypto partnership program with over 100 companies. Stripe launched its own blockchain.
JPMorgan CEO Jamie Dimon has long been skeptical of cryptocurrencies. Despite that, the bank has continued to build out its blockchain infrastructure.
Chestnut said the client pipeline for Kinexys remains strong. “We expect the market will continue to hear more about our continued client growth throughout the next 12 months,” he said.
Kinexys currently serves central banks, commercial banks, and large corporations across five continents.
Mitsubishi operates across energy, manufacturing, and logistics globally, making efficient cross-border payments a core business need.
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