QNB Embraces Kinexys for Two-Minute Dollar Transfers

Qatar National Bank Group Embraces Kinexys for Two-Minute Dollar Transfers

Written by Aaron S.,

Editor-In-Chief

Last Updated: September 29, 2025

Key Takeaways

QNB uses JPMorgan’s Kinexys blockchain to send US dollar payments around the clock, which removes weekday-only delays;
Payments that once took days can now be completed in just two minutes, which offers faster service for corporate clients;
Kinexys uses a private blockchain, which allows only approved users to transfer funds securely within defined access limits.

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Qatar National Bank Group (QNB) has started using Kinexys, JPMorgan’s blockchain network, to manage US dollar payments for companies.

Traditionally, cross-border transfers move slowly, often limited to business days and taking several days to settle.

By turning to Kinexys, QNB aims to overcome those limitations. The system enables money to be transferred at any hour, every day of the week.

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Kamel Moris, QNB’s executive vice president for transactional banking, told Bloomberg that this shift is a benefit for treasurers by describing it as a "treasurer’s dream". He explained that the bank can complete payments in as little as two minutes.

Kinexys currently handles about $3 billion in transactions daily. While that number is large, it is still small compared to JPMorgan’s overall payment systems, which process around $10 trillion each day.

The technology is built on a private blockchain system. This setup differs from open blockchains in that it utilizes access controls.

Only approved participants can carry out specific actions, which adds an extra layer of security and ensures that transactions remain within clear boundaries.

Currently, Kinexys is used for US-dollar payments. JPMorgan CEO Jamie Dimon told CNBC on September 23 that he has taken a more accepting view of digital assets, especially stablecoins and blockchain technology. What did he say? Read the full story.