Emirates NBD has launched real-time US dollar cross-border payments on the Partior blockchain network. The bank is the first in the MENAT region to process live transactions on the platform.
The deployment follows a successful live US dollar transaction with J.P. Morgan acting as the settlement and beneficiary bank.
Emirates NBD corporate and institutional clients can now send real-time payments to J.P. Morgan beneficiary accounts.
“Moving from partnership to live execution on the Partior network enables us to offer faster US dollar settlement for J.P. Morgan beneficiaries, supporting more efficient treasury operations for our clients,”
said Anith Daniel, Group Head of Transaction Banking Services at Emirates NBD.
“We are combining Emirates NBD’s regional strength with our blockchain-based clearing and settlement infrastructure to support more efficient global payments,”
said Humphrey Valenbreder, Chief Executive Officer at Partior.
Financial institutions are increasingly adopting blockchain settlement networks to accelerate cross-border capital flows. The integration provides clients with faster settlement times and improved payment transparency.
Emirates NBD plans to connect with additional banks and support more currencies on the network to offer programmable liquidity management.
Featured image credit: Edited by Fintech News UAE, based on image by Emirates NBD
