Qatar National Bank Adopts JPMorgan’s Blockchain for Instant US Dollar Payments

Qatar National Bank (QNB) has joined JPMorgan’s Kinexys blockchain network to enable near-instant U.S. dollar payments. The move signals a major step forward for real-time cross-border settlements in the Middle East’s financial sector.

• The platform enables 24/7 transactions with settlement times as short as two minutes.
• Kinexys currently handles $3 billion in daily transactions.
• The system is built on a permissioned blockchain, providing secure, regulated access.
• Kinexys recently worked with Chainlink and Ondo Finance on a cross-chain settlement pilot.
• JPMorgan CEO Jamie Dimon said he’s “not worried” about stablecoins but acknowledged their rapid growth.

Qatar National Bank (QNB), one of the largest financial institutions in the Middle East, has adopted JPMorgan’s blockchain platform Kinexys to streamline corporate payments in U.S. dollars. The integration, reported by Bloomberg, highlights how traditional banking institutions are increasingly turning to blockchain for faster, more efficient global settlements.

According to Kamel Moris, QNB’s executive vice president of transactional banking, the shift to Kinexys is a “treasurer’s dream.” The system enables 24/7 transaction capability, removing the weekday and holiday restrictions of conventional banking infrastructure. “We can guarantee payments as fast as two minutes,” Moris said, emphasizing the dramatic improvement in efficiency for QNB’s corporate clients.

Kinexys currently processes around $3 billion in daily transactions, a small but significant portion of JPMorgan’s $10 trillion daily payments volume. The platform operates on a permissioned blockchain, meaning only verified participants can access and execute transactions. This setup ensures security and compliance while preserving the advantages of blockchain speed and transparency.

Earlier this year, Kinexys collaborated with Chainlink and Ondo Finance to test a cross-chain delivery-versus-payment (DvP) settlement between its permissioned payment network and Ondo’s public testnet. The experiment demonstrated how real-world asset (RWA) tokenization could interact with institutional blockchain systems, paving the way for seamless interoperability between private and public blockchains.

Despite JPMorgan’s increasing use of blockchain technology, CEO Jamie Dimon said in a CNBC interview that he is “not particularly worried” about stablecoins such as Tether (USDT) and Circle (USDC). However, Dimon acknowledged that banks must stay informed about regulatory trends and technological innovation in the digital asset sector.

According to RWA.xyz data, stablecoin net inflows rose more than 320% in Q3 2025, highlighting the growing integration of blockchain-based payment solutions in traditional finance.

Final Thought

QNB’s integration with JPMorgan’s Kinexys blockchain underscores a broader trend: major financial institutions are embracing blockchain to overcome the inefficiencies of legacy systems. With near-instant payments and continuous settlement capabilities, blockchain-based solutions like Kinexys are quickly becoming essential tools for modern banking.