QNB Implements JPMorgan’s Blockchain for USD Payments
- Qatar National Bank (QNB) has adopted JPMorgan’s Kinexys platform for US dollar corporate flows, effective March 2025.
- The Kinexys system allows for around-the-clock operation, settling some transfers in as little as two minutes.
- Eight major lenders in the Middle East, including QNB and Saudi National Bank, are now live on the platform.
- Clients benefit from fewer reconciliation issues and can track funds more clearly between accounts.
QNB’s integration with Kinexys marks a significant shift in regional banking by enabling faster and more efficient USD transactions through blockchain technology. This move is part of a broader trend among banks in the Middle East to adopt advanced payment solutions that minimize timing and liquidity friction.
By joining JPMorgan’s blockchain network, QNB enhances its capability to offer programmable payment flows, improving operational efficiency for corporate clients. Source
