JPMorgan’s tokenized deposit onboards another giant: Mitsubishi moves to 24/7 USD payment

Mitsubishi Corporation is set to leverage blockchain-based tokenized deposits from JPMorgan to enable instant, cross-border fund transfers. Following successful pilot transactions using JPMorgan’s Blockchain Deposit Account, full-scale rollout is expected as early as fiscal 2026.

Source: Nikkei Asia

➡️ Why this matters

Tokenized deposits are becoming treasury infrastructure for big multi-nationals to move money around the world 24/7 instantenously.

Unlike stablecoins, tokenized deposits sit within the regulated banking perimeter, carrying the same credit and redemption profile as bank deposits while extending the payment capabilities of banks for their customers.

With capabilities across multiple FXs, JPMorgan has become a pioneer and leader in the space with many well-known corporates and financial institutions utilizing the its tokenized deposit for treasury management and faster payout, including:

• Chinese eCommerce giant: Alibaba Group and its payment arm Ant International

• Global financial services firm: Marex and LSEG

• Payment fintech: Corpay

• MENA's leading banks: Qatar National Bank, The Saudi National Bank, First Abu Dhabi Bank, Emierates NBD, Commercial Bank of Dubai

• Commodity trading house: Trafigura 

• German conglomerates: Siemens and BMW Group

With the addition of Mitsubishi, the JPMorgan's tokenized deposit network strengthens further. With a distribution network of 170 countries, Mitsubishi can now pay a client sharing the JPMorgan's tokenized deposit rail in 24/7 in USD via Kinexys Digital Payment.

Next up: connecting tokenized deposits capabilities across banks. Stay tuned.

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