Qatar National Bank (QNB Group) has adopted JPMorgan Chase's blockchain platform, Kinexys, to enhance its US dollar corporate payment processing capabilities. This move allows QNB to process USD payments for its corporate clients in Qatar around the clock, significantly reducing transaction times to just minutes. Traditionally, such payments could take several days to complete due to reliance on business day processing.
The Kinexys platform, launched in 2019, facilitates daily transactions worth $3 billion, offering a more efficient alternative to conventional payment channels. This strategic adoption by QNB underscores the growing trend of financial institutions leveraging blockchain technology to improve transaction speed and efficiency.
Qatar National Bank Adopts JPMorgan's Kinexys for Faster USD Payments
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.