Partior has partnered with the National Bank of Bahrain (NBB) to explore bringing Bahraini dinar settlement onto its blockchain network.

The MoU sets out a framework to evaluate NBB’s potential role as a settlement bank, including the proposed operating model and implementation requirements.

Partior operates a live multi-bank blockchain network designed to support cross-border payments and settlement between financial institutions.

Vineet Munot, Group Head of Transaction Banking at NBB, said,

“Our engagement with Partior allows us to assess how NBB’s local market capabilities could support Bahraini Dinar settlement within an emerging digital infrastructure.

We will approach this opportunity with the appropriate technical, operational and regulatory considerations as we determine its potential value for NBB and Bahrain’s banking and finance industry.”

Humphrey Valenbreder, CEO of Partior, said,

“Our work with NBB gives us an avenue to assess how Bahraini Dinar settlement could be incorporated into Partior’s network, building on our growing presence across the GCC.

We look forward to working together to evaluate a model that can support efficient and transparent cross border flows working with a world class partner like NBB.”

The agreement forms part of NBB’s efforts to strengthen its transaction banking capabilities and improve international connectivity.

The proposed arrangement remains at the evaluation stage, with no implementation timeline specified in the announcement.

This article first appeared on Fintech News Singapore

Featured image: Edited by Fintech News Middle East, based on image by emiervayanti1 via Magnific