The QNB banking group – One of the largest financing institutions in the Middle East – adopted the Balcachen platform for the JPMorgan Chase banking process to treat institutional payments using the USD dollar (USD), in a very step towards the widespread use of distributed registry technology (DLT).
Bloomberg reported last Tuesday that QNB – its headquarters – would use the Kinexys digital payment system, which is provided by JPMorgan, allowing its Qatari institutions to set up payments from the US dollar in a few minutes and for a week, while systems are traditional settlement systems often take several days and only work during official work days.
It should be noted that Kamel Morris – CEO of Qnb Banking Services at QNB – told the newspaper that institutional customers call – increasing that, “he said, saying:” It is the dream of bankers “, while Qnb did not respond to Cryptonews’ demand to comment before the time of publication.
According to Bloomberg, Qatar Natoral Bank (Group Qnb) adopted the JPMorgan Blockchain platform for Brooks US Dollaar corporate payments for the ITAR-based bank. With the integration of the JPMorgan Kinexys digital payment system, QNB can now manage the USD panels for premises …
– Wu Blockchain (@wublockchain) September 29, 2025
The fastest and lowest levels of settlement are essential to attract global investments
This step puts the bank on a growing list of Gulf banks seeking to have partnerships with international partners such as JPMorgan to update payment systems in the regional efforts – which has long been based on the wealth linked to the liquidity of oil and the dollar – currently on the strengthening of its financial infrastructure to support diversification strategies and attract global investors, and systems. colonization are considered to be fasting and less the basic cost of transformation.
The JPMorgan Bank – which was launched in 2019 – is currently dealing with daily transactions of around 3 billion dollars; Despite the modest of this value compared to his broader counterpart, the 10 billions of dollars, he attends an acceleration pace with more institutions to join him, especially since the American bank is the greatest performance of the transaction regulations by using the US dollar worldwide and takes advantage of its position to develop the field of access to its Kinexys platform.
The adoption of the Qnb bank platform shows the role of gulf banks in widening the use of blockchain
For Qnb Bank, the immediate settlement of transactions using the US dollar comes to meet the increasing expectations associated with banking institutions; In the light of the current conditions of the global economy, information is gently transferred and it should follow the transfer of funds with the same simplicity, and the speed of the regulation allows the bank to compete with its regional and international counterparts with greater force in the fields of companies directed to companies.
At the same time, the main financial institutions continue to pump greater investments in solutions based on blockchain technology in order to simplify the activities of internal settlement services and improve transparency; For more than 10 years, banks have continued to discover the various registry systems distributed, but only a few have managed to provide services that allow generalized use.
Finally, it is reported that the adoption of the National Bank (QNB) Qatar for Blockchain solutions indicates that the Banks of the Gulf – which are often one of the first emerging markets for emerging markets for new financial technologies – is currently looking to apply these solutions to a wider scale, and this transformation reflects both competitive pressure to update the financial infrastructure and Strategic to ensure reliable access for American brochure (USD).
The post, the QNB Gulf Bank, is heading to the Blican -based Blican network to settle transactions using the US dollar appeared first on Arab Cryptonews.
