According to a report by Cointelegraph, Mitsubishi Corporation of Japan will adopt Kinexys, a blockchain-based payment system developed by JPMorgan Chase, for its global fund transfers. This will enable near-instantaneous fund transfers, reduce reliance on traditional banks, and provide 24/7 service. JPMorgan Chase is seeking to increase the platform's daily transaction volume from the current $7 billion to $10 billion, bringing its cumulative transaction volume since its launch in 2020 to over $3 trillion.
Mitsubishi Corporation of Japan will use JPMorgan's blockchain for corporate payments.
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