PANews reported on September 29th that Qatar National Bank (QNB Group), one of the largest financial institutions in the Middle East, has switched to JPMorgan Chase's blockchain platform to process US dollar corporate payments at its Qatar branch. The two companies said in a statement released on Monday that by adopting JPMorgan Chase's Kinexys digital payment system, Doha-based QNB can now process US dollar payments for its corporate clients in Qatar 24/7 in just minutes. In contrast, bank payments using traditional payment channels are mostly processed only on business days, and it can take several days for the funds to reach the beneficiary's account. The Kinexys network, launched in 2019, currently processes US$3 billion worth of transactions daily.PANews reported on September 29th that Qatar National Bank (QNB Group), one of the largest financial institutions in the Middle East, has switched to JPMorgan Chase's blockchain platform to process US dollar corporate payments at its Qatar branch. The two companies said in a statement released on Monday that by adopting JPMorgan Chase's Kinexys digital payment system, Doha-based QNB can now process US dollar payments for its corporate clients in Qatar 24/7 in just minutes. In contrast, bank payments using traditional payment channels are mostly processed only on business days, and it can take several days for the funds to reach the beneficiary's account. The Kinexys network, launched in 2019, currently processes US$3 billion worth of transactions daily.
Qatar National Bank adopts JPMorgan's blockchain platform Kinexys for US dollar payments
PANews reported on September 29th that Qatar National Bank (QNB Group), one of the largest financial institutions in the Middle East, has switched to JPMorgan Chase's blockchain platform to process US dollar corporate payments at its Qatar branch. The two companies said in a statement released on Monday that by adopting JPMorgan Chase's Kinexys digital payment system, Doha-based QNB can now process US dollar payments for its corporate clients in Qatar 24/7 in just minutes. In contrast, bank payments using traditional payment channels are mostly processed only on business days, and it can take several days for the funds to reach the beneficiary's account. The Kinexys network, launched in 2019, currently processes US$3 billion worth of transactions daily.
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