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QNB Group, one of the leading banks in the Middle East, announced the introduction of the Kinexys blockchain solution from JPMorgan Chase & Co. Now corporate clients in Qatar will be able to make payments in dollars around the clock, and the transaction processing speed will decrease to a few minutes.

Thanks to the distributed registry technology used in Kinexys, an alternative to the usual payment systems has appeared, where transfers can take several days. QNB representatives claim that Kinexys allows transactions to be carried out at any time, regardless of time zones, weekends and working hours of banks.

The Kinexys platform, launched in 2019, has already proven its reliability by processing huge amounts of payments. Billions of dollars in daily turnover speak for themselves, confirming its readiness for serious workloads and compliance with the requirements of banks.

JPMorgan Chase & Co strives to create a large and user-friendly ecosystem that unites leading financial institutions. By opening access to its platform, the bank creates the foundation for changes in the industry. Each new participant, like the QNB Group, strengthens this network and makes it even more valuable.

The collaboration between QNB Group and JPMorgan Chase shows that blockchain technologies are moving from experimentation to real-world use in large financial organizations. This proves that distributed ledgers can solve specific business tasks, including speeding up payments and improving efficiency, which in the future may change the rules of the game in the field of international payments.