QNB Taps JPMorgan’s Kinexys to Speed Up Cross-Border Dollar Settlements
Qatar National Bank (QNB) has officially adopted JPMorgan’s blockchain payment platform, Kinexys, to accelerate corporate US dollar transactions.
The system enables near-instant settlements and operates continuously, allowing cross-border payments outside traditional banking hours.
QNB Streamlines US Dollar SettlementsQNB, the largest bank in the Middle East and Africa, has integrated JPMorgan’s Kinexys platform to improve corporate US dollar payments. The blockchain network allows transactions to settle within minutes, significantly faster than traditional methods. Unlike conventional systems, which rely on manual clearing and limited banking hours, Kinexys provides continuous, round-the-clock settlement.
The system also records all transactions on a distributed ledger, offering greater transparency and auditability. For regional corporations and multinational clients, this translates into quicker access to funds, lower operational risk, and reduced transaction costs.
QNB expects these efficiencies to strengthen its position in corporate US dollar flows in the Gulf. The bank also plans to use blockchain in its broader digital strategy. It emphasizes technology adoption to improve client services and enhance its regional competitive advantage.
This strategic adoption signals the bank’s commitment to modernizing regional financial infrastructure and aligns with broader trends in digital finance across the Gulf region.
Kinexys: Blockchain Efficiency and AdoptionKinexys, formerly JPMorgan Onyx, was rebranded in late 2024 as part of JPMorgan’s global blockchain expansion. The platform supports direct settlement between banks, bypassing legacy clearinghouses and reducing reconciliation delays. QNB started testing the platform earlier in 2025 and is among the first Middle East banks to adopt it for US dollar corporate payments.