Qatar National Bank (QNB) has started using JPMorgan’s Kinexys payments platform for US dollar corporate flows, bringing on-chain settlement to clients in the country. According to JPMorgan, the move went live in March 2025.
QNB Adopts Kinexys For USD Flows
Based on reports, the Doha lender will now be able to move US dollar payments around the clock, removing the usual business-hour cutoffs that delay transfers.
The system operates 24/7 and can settle some transfers in as little as two minutes, a speed level that banks say shortens what used to take days.
For JP Morgan, Kinexys (the unit that grew out of its earlier blockchain work) is being rolled out more widely across the Middle East and North Africa.
The bank says eight of the region’s largest lenders are now live on the platform, with QNB and Saudi National Bank named among them.
That wider uptake is being framed as an effort to give corporate treasuries faster, programmable payment options across corridors that previously suffered from timing and liquidity friction.
What This Means For Clients
Reports have disclosed that clients can expect fewer reconciliation headaches and a clearer view of funds as they move between accounts.
Banks on Kinexys can create “programmable” payment flows — for example, payments that trigger only after a condition is met — which can shorten manual steps in trade and treasury operations.
The platform also claims to preserve full payment amounts until they reach beneficiaries, reducing the chance of unexpected deductions.
Momentum In The Region
The QNB announcement follows similar moves by other institutions earlier this year that used Kinexys to expand anytime dollar clearing.
In March 2025, for instance, India’s Axis Bank began offering 24/7 US dollar clearing with JPMorgan — a sign that banks in different markets are testing the same capability for corporate customers.
While the speed gains are clear in promotional materials and press coverage, several operational details remain thin in public disclosures.
Despite that, QNB’s step into Kinexys highlights a shift in regional banking, as Qatar’s biggest bank joins JPMorgan’s blockchain payment network.
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Source: https://www.newsbtc.com/news/qatars-biggest-bank-joins-jpmorgans-blockchain-payment-network/
