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Qatar National Bank has recently adopted JP Morgan\u2019s Kinexys blockchain technology to process its USD payments, providing faster transactions and around-the-clock services for fiat currency.<\/p>\n
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On Sept. 29., one of the largest financial groups in the Middle East, Qatar National Bank Group recently switched to using JPMorgan\u2019s blockchain platform for completing U.S. dollar corporate payments. The Doha-based bank can now process U.S.-dollar based payments for business clients at a faster rate than ever before.<\/p>\n
With this integration, QNB becomes the first bank in Qatar to start using JPMorgan\u2019s Kinexys Digital Payments system to facilitate settlements of their corporate flows and automating on-demand multi-currency cross-border payments.<\/p>\n
According to a recent report<\/a> by Bloomberg, Kamel Moris, executive vice president of transactional banking at QNB, said that the blockchain helps the bank establish a USD payments system that provides clients with a 24\/7 service window. <\/p>\n This is a major advancement when compared to other traditional banks that mostly process fiat currency transactions on weekdays and clients have to wait days for funds to reach their beneficiary.<\/p>\n \u201cWe can guarantee payments as fast as in two minutes,\u201d Moris said to Bloomberg. \u201cIt\u2019s a treasurer\u2019s dream.\u201d<\/p>\n <\/p>\n JPMorgan\u2019s Kinexys Digital Payments system was established in 2019 and currently handles around $3 billion worth of transactions on a daily basis. QNB Group began partnering with the blockchain unit as early as March 2025.<\/p>\n