QNB joins JPMorgan’s blockchain network to speed up your dollar payments

QNB joined JPMorgan’s Kinexys Digital Payments Platform and became the country’s first bank to use blockchain for real-time USD corporate payments.

The nation’s largest lender, Qatar National Bank (QNB), employs JPMorgan’s Kinexys Digital Payments platform to process corporate transactions in the US dollar.

This will become Qatar’s first bank, extending the network to the blockchain of real-time USD settlements, eliminating the several-day delays typical of traditional systems.

JPMorgan’s Extended Network

According to a Bloomberg report, the Kinexys system now allows corporate clients to execute transactions in minutes, even on weekends and outside business hours. Kamel Moris, executive vice president of global transaction banking at QNB, described this as a “treasurer’s dream,” saying it could cut the trading time frame to just two minutes.

That too Eliminate many inefficiencies in traditional payment networks by programming your deposit account directly On the blockchain rail. These railways reportedly process $3 billion in daily payments across connected banks, making it easier for finance teams to automate liquidity flows.

JPMorgan is steadily scaling Kineks throughout the Middle East. The platform is based on the bank’s previous blockchain initiatives, including the Onyx division and projects related to the enterprise blockchain Quorum.

For financial institutions, QNB entries are added to the list of regional recruits. Companies such as Emirates NBD and Saudi National Bank are already participating in the network, indicating that Gulf lenders prioritize speed, transparency and always on payment options.

What does this mean for the banking industry?

Research shows that local businesses pay for payments rely on correspondent banks, which creates delays due to time zone distribution, business time limits and other manual checks. Meanwhile, Kinexys allows direct payments to be moved on blockchain rails that bypass these traditional frictions.

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Large financial institutions around the world see them as a tool to accelerate the use of distributed ledger technology and simplify complex back-office processes. Banks have been testing these systems for over a decade, but few people can expand or achieve commercial viability.

Earlier this year, Reuters announced a partnership between India’s Axis Bank and JPMorgan, expanding access to Axis clients 24/7 remittances. The collaboration allowed the company to streamline liquidity management and unlock advanced financial features such as multi-bank cash concentration. This technology offers more than just speed, providing reduced costs and increased transparency.

In an interview, Naveen Malla, global co-head of Kinexys, said in a statement that opening a network in such companies will allow them to reach companies that are not direct clients of the bank. “This is institutional grade scale,” he said.