Dimon Still Hates Crypto, But JPMorgan's Blockchain Train Picks Up Mitsubishi

Mitsubishi Corporation just hopped on JPMorgan's blockchain payment rails, because nothing screams "we're future-ready" like shuttling billions across borders while the rest of traditional finance is still waiting for their SWIFT confirmation email.

The Japanese trading leviathan plans to use JPMorgan's Kinexys network — the bank's blockchain-based payment system that handles near-instant fund transfers 24/7, basically leaving traditional banking in the dust like a Honda Civic passing a horse-drawn carriage.

Kinexys is currently processing around $7 billion in daily transactions, with JPMorgan aiming to push that to $10 billion. Since launching in 2020, the network has handled over $3 trillion in cumulative volume — a number so fat it would make even the most die-hard crypto skeptic do a painful double-take and maybe, just maybe, consider touching grass.

Mitsubishi isn't flying solo on this one. Qatar National Bank (QNB) Group jumped on the train in September, with exec Kamel Moris hyping payments as fast as two minutes. That's faster than most people can say "blockchain" without sounding like a maxi at a dinner party.

Here's the beautiful irony: CEO Jamie Dimon has spent years publicly dragging cryptocurrencies through the mud like they're a rug he just wants to get rid of, yet JPMorgan's blockchain empire keeps growing faster than his contempt for Bitcoin. The bank is even rolling out Kinexys Fund Flow