QNB Group has adopted JPMorgan’s Kinexys blockchain for near-instant US dollar payments. Here are some of the details.
QNB Group, the largest bank in the Middle East, has started using JPMorgan’s blockchain network for real-time US dollar payments.
The move is a major step forward in how traditional banks are drifting towards digital technology for cross-border transactions.
JPMorgan Blockchain Brings Speed and Efficiency
The new system replaces slower, business-hour-based methods that have long controlled traditional banking. Payments that once took days can now be completed in as little as two minutes, even during weekends.
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Qatar National Bank (QNB Group) has adopted JPMorgan’s blockchain platform to process U.S. dollar corporate payments. pic.twitter.com/AZ570JN9kG
— Coin Bureau (@coinbureau) September 29, 2025
Qatar National Bank (QNB Group) has adopted JPMorgan’s blockchain platform to process U.S. dollar corporate payments. Kamel Moris, head of transactional banking at QNB, described the change as transformative for business clients.
“It’s a treasurer’s dream,” he said, noting that companies now expect their money to move as quickly as their information.
For corporate customers in Qatar, this means improved cash flow and reduced uncertainty when managing international transactions.
JPMorgan’s Kinexys Network Handles Billions Daily
JPMorgan launched the Kinexys blockchain platform in 2019. The network currently processes about $3 billion in transactions every day.
While this is impressive, it is still a small fraction of the $10 trillion that the bank handles daily through all its payment operations.
Naveen Mallela, who co-leads the Kinexys platform, said that the goal is to scale the network by bringing in other financial institutions. “This is institutional-grade scale,” Mallela explained.
Distributed Ledger Technology Gains Ground in Banking
Big banks have been experimenting with blockchain for more than a decade. They see blockchain as a tool that can simplify back-office processes and improve transaction speeds.
Until now, most of these projects have struggled to reach large-scale implementation or deliver strong profits.
QNB’s adoption of JPMorgan’s platform shows that progress is being made toward real-world, high-volume usage of blockchain in banking.
Swift Experiments with Blockchain
While JPMorgan advances its own blockchain-based network, Swift is also testing blockchain integration. Swift connects over 11,000 banks worldwide and serves as the backbone of international messaging for payments.
The trial involves major players, including BNP Paribas and BNY Mellon. It also aims to investigate whether Swift’s systems can eventually operate on a blockchain foundation.
A banker involved in the project described it as “an important technological transformation for the international interbank payments industry.”
Results from the pilot are expected in the coming months and could affect how cross-border banking changes over the years.
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