QNB Adopts JPMorgan’s Blockchain for USD Payments Processing

Qatar National Bank Group (QNB) has adopted JPMorgan’s blockchain platform, Kinexys, to improve corporate digital payments.
This move addresses the limitations of traditional banking, such as restricted to weekday transactions and delays in cross-border payments.
Kinexys offers real-time, 24/7 payments with potentially lower fees, processing $3 billion daily, a fraction of JPMorgan's total $10 trillion daily transactions.
QNB aims for faster transaction times, with payments potentially processed in two minutes.
SWIFT is also exploring blockchain-based cross-border payments with Consensys, aiming for a 24/7 system that maintains compliance and interoperability with existing financial networks.