Back
QNB Group Adopts JPMorgan Blockchain for US Dollar Corporate Payments

QNB Group Adopts JPMorgan Blockchain for US Dollar Corporate Payments

QNB becomes the first in Qatar to implement JPMorgan’s Kinexys blockchain for faster, 24/7 US dollar corporate payment settlements, joining regional banks in the shift toward blockchain-based financial systems.

Fact Check
Multiple credible sources, including a primary source from J.P. Morgan, explicitly state that Qatar National Bank (QNB) is adopting JPMorgan's Kinexys blockchain platform. The evidence specifically confirms its use for 'USD corporate flows', corroborating every part of the statement.
    Reference: 123
Summary

Qatar National Bank has launched JPMorgan’s Kinexys blockchain platform for real-time US dollar corporate payments, marking a significant shift in regional banking towards 24/7 settlement and enhanced efficiency. This move comes as part of a broader trend in the Middle East and North Africa, where major financial institutions are adopting blockchain to improve cross-border payment processing speeds and reduce operational friction.

Terms & Concepts
  • Kinexys: A digital payment network developed by JPMorgan, designed for fast, secure, and efficient transactions, primarily for U.S. dollar corporate payments.
  • Blockchain: A decentralized digital ledger that records transactions across a network of computers, ensuring transparency and security.
  • Corporate Payments: Financial transactions conducted by companies to settle obligations such as supplier invoices, salaries, or other business expenses.