QNB to use JPMorgan’s blockchain for 24/7 dollar transfers
Qatar National Bank (QNB Group), one of the Middle East’s largest lenders, has connected to JPMorgan’s Kinexys Digital Payments – a distributed‑ledger network of deposit accounts that lets banks settle U.S. dollar payments around the clock in near real time.
Just last week, Global Finance recognized QNB as one of the region’s digital‑banking leaders, awarding it “Best Mobile Banking App” and “Best Marketing and Services in Qatar.” Now, the bank has reached another milestone.
With Kinexys, QNB can process U.S. dollar transfers for corporate customers in Qatar within minutes, 24/7. By contrast, traditional payment rails are tied to business hours and often take days to reach the beneficiary. For banks and corporates, that means less trapped liquidity and less manual work – many actions on Kinexys can be automated and scheduled.
JPMorgan has been developing Kinexys since 2023 as a bank‑led next‑gen platform. It supports programmable payments, helps automate treasury workflows, and settles outside the usual cut‑off windows and geography constraints.
Throughout 2025, institutions from multiple regions have joined the network. For example, India’s Axis Bank, together with JPMorgan, launched round‑the‑clock dollar transfers for corporate clients. In the Middle East, several major banks, including QNB, are already live.
For now, the focus is on U.S. dollar settlement, but the platform is expanding to include additional currencies and use cases. JPMorgan is testing sterling‑denominated blockchain accounts and linking Kinexys with FX services to route and convert flows seamlessly. For companies, that simplifies cash management and trims “urgency” costs with predictable fees and no weekend or end‑of‑day surcharges.
For QNB, adopting Kinexys speeds up dollar settlement across its ecosystem and reduces reliance on correspondent‑banking schedules. Real‑time payments on weekends and holidays provide a practical edge for firms transacting across time zones.
Zooming out, it’s another sign of blockchain’s quiet integration into traditional finance (TradFi): not an overnight revolution, but a steady shift of specific processes onto rails that save time and money, especially where every minute in settlement matters.
Recommended