Mitsubishi Corporation Launches Blockchain Payments with JPMorgan

Mitsubishi Corporation has recently launched its cross-border settlement operations on JPMorgan's blockchain network, with transaction volumes reaching over $10 billion per day.

The company's move to utilize JPMorgan's Onyx/‘Kenex’ blockchain infrastructure marks a significant step towards the adoption of blockchain technology in institutional payments.

According to industry analysts, Ripple's XRP is expected to play a key role in the new payment stack, which includes the integration of stablecoins and the use of legacy messaging systems like SWIFT.