QNB Adopts JPMorgan Kinexys for Instant USD Corporate Payments Using Blockchain
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- QNB implements Kinexys platform for instant US dollar business payments.
- System processes transactions 24/7 within minutes versus days traditionally.
- Institutional blockchain adoption could boost ETH and BTC market sentiment.
QNB Group has integrated JPMorgan Chase’s Kinexys Digital Payments platform for processing US dollar corporate transactions through its operations in Qatar. The Middle Eastern financial institution can now execute business client payments 24/7, with settlement in minutes.
Traditional banking operates its payments mainly during weekdays and requires several days for its funds to reach recipients, whereas the blockchain-based system removes these delays by allowing continuous transaction processing.
Kamel Moris, executive vice president of transactional banking at QNB, stated that corporate treasurers increasingly demand faster payment execu…
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