Mitsubishi Corporation of Japan will use JPMorgan's blockchain for corporate payments

According to Cointelegraph, Mitsubishi Corporation of Japan will adopt the blockchain-based payment system Kinexys developed by JPMorgan for its global business fund transfers, achieving near-instantaneous fund transfers, reducing reliance on traditional banks, and providing 24/7 service.

JPMorgan is seeking to expand the platform's daily transaction volume from the current $7 billion to $10 billion, with a cumulative transaction amount exceeding $30 trillion since its launch in 2020.