Quick Breakdown
- First mover in Qatar: QNB is the country’s first bank to adopt JPMorgan’s Kinexys blockchain for faster USD corporate payments.
- Two-minute settlements: The system enables near-instant cross-border transactions and a 24/7 service model.
- Web3 strategy: QNB is deepening its role in tokenization, digital assets, and fintech partnerships.
Qatar National Bank (QNB) has adopted JPMorgan’s Kinexys blockchain platform to process U.S. dollar transactions, offering clients faster cross-border payments and 24/7 settlement services, according to a Bloomberg report.
QNB becomes the first bank in Qatar to use Kinexys
QNB, one of the Middle East’s largest financial institutions, has rolled out JPMorgan’s Kinexys Digital Payments system to streamline corporate U.S. dollar flows. The Doha-based lender can now complete payments in minutes, setting a new benchmark compared to traditional banks that often take several days to clear transactions.
🔥 QNB Group, one of the biggest lenders in the Middle East, has integrated JPMorgan’s Kinexys blockchain to process USD corporate payments.
The implementation is a major step in mainstream use cases for a private DLT. pic.twitter.com/FnJvgxzvjZ— ALLINCRYPTO (@RealAllinCrypto) September 29, 2025
According to Kamel Moris, executive vice president of transactional banking at QNB, the system enables a 24/7 service model for treasurers.
“We can guarantee payments as fast as in two minutes. It’s a treasurer’s dream,”
Moris told Bloomberg.
JPMorgan’s blockchain network expands in MENA
Kinexys, launched in 2019, handles over $3 billion in daily payments across its network. QNB formally began collaborating with JPMorgan’s blockchain division in March 2025 and now joins a roster of eight other regional banking giants, including First Abu Dhabi Bank, Saudi National Bank, Emirates NBD, Commercial Bank of Dubai, and Bank ABC.
QNB’s broader web3 push
While this move strengthens QNB’s fiat transaction framework, the lender has also been active in the Web3 and tokenization space. In July 2025, it partnered with DMZ Finance to launch QCD Money Market, the first tokenized money market fund within the Dubai International Financial Centre.
During the 2025 web summit, QNB signed an MoU with Qatar Financial Centre to open banking infrastructure to fintechs and support digital asset innovation. In 2021 DNB piloted RippleNet with its Turkish subsidiary Finansbank to facilitate real-time cross-border remittances.
Meanwhile, JPMorgan Chase & Co. introduced instant foreign exchange (FX) settlement between the US dollar and euro in early 2025, leveraging its newly rebranded blockchain platform Kinexys. The bank plans to extend the service to include British pound sterling in future phases, marking a significant advancement in digital payment infrastructure.
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