Kinexys by J.P. Morgan: Revolutionizing MENA’s Digital Future
In a significant stride towards enhancing blockchain solutions in the financial sector, Kinexys by J.P. Morgan has made notable advancements in the Middle East and North Africa (MENA) region. The dedicated blockchain business unit of J.P. Morgan has secured prominent partnerships with major banks, including Qatar National Bank (QNB) and Saudi National Bank (SNB), marking a pivotal moment in its regional expansion.
Expansion of Kinexys in MENA
The growth of Kinexys is underscored by its collaboration with eight of the largest financial institutions in the MENA region, now utilizing its innovative blockchain platform. These institutions include:
- Emirates NBD
- Commercial Bank of Dubai
- First Abu Dhabi Bank
- Bank ABC
As J.P. Morgan continues to leverage its nearly century-long presence in the region, it is enhancing its client relationships to provide sophisticated blockchain solutions that cater to the dynamic requirements of financial institutions.
Transforming Cross-Border Payments
The recent partnerships with QNB and SNB highlight Kinexys’ pivotal role in transforming cross-border payments and the digital financial infrastructure for banks throughout MENA. For instance:
- In March 2025, QNB became the first bank in Qatar to implement Kinexys Digital Payments (KDP) for blockchain-based corporate USD flows. This integration allows for 24/7 settlement of cross-border transactions, enhancing speed and transparency in treasury operations.
- Meanwhile, SNB went live with KDP in February 2025, enabling real-time programmable payments across its treasury operations, facilitating instant fund transfers and uninterrupted services.
Statements from Key Executives
Executives from both banks have expressed their enthusiasm for the partnerships:
“At QNB, our alliance with Kinexys by J.P. Morgan marks a bold step forward in delivering on our client-first promise,” stated Kamel Moris, Executive Vice President of Global Transaction Banking at QNB.
“We are excited to have achieved this landmark milestone in collaboration with Kinexys by J.P. Morgan,” said Ali Al Shubbar, Head of Treasury Operations at SNB.
Other Financial Institutions Adopting Kinexys Solutions
In addition to QNB and SNB, several other leading financial institutions in the MENA region have embraced Kinexys technology:
- Commercial Bank of Dubai became the first bank to integrate Kinexys Liink’s Confirm application into its corporate banking portal and mobile app, enhancing payment security.
- First Abu Dhabi Bank successfully piloted programmable payments via KDP, showcasing its potential in automating treasury operations.
- Bank ABC launched a faster cross-border payment solution using KDP, enabling near-instant USD transactions between Bahrain and the United States.
Overview of Kinexys Services
Kinexys by J.P. Morgan operates through four main pillars:
- Kinexys Digital Payments (KDP): A blockchain-based deposit ledger and payment system.
- Kinexys Digital Assets (KDA): A platform for tokenizing financial instruments.
- Kinexys Liink: A permissioned network for sharing payments-related data.
- Kinexys Labs: A global research hub focused on digital finance innovation.
To date, Kinexys has processed over $1.5 trillion in transaction volume, with daily volumes exceeding $2 billion and a remarkable year-over-year payments growth of 10x. Its clients span across five continents, including central and commercial banks, showcasing its increasing global significance.
Innovations and Future Directions
A noteworthy innovation includes the integration of KDP with J.P. Morgan FX Services, facilitating real-time, on-chain foreign exchange settlements in major currencies. This advancement significantly mitigates foreign exchange settlement risks and accelerates trade execution.
“We are driven by a relentless focus on building next-generation financial infrastructure,” remarked Naveen Mallela, Global Co-Head of Kinexys by J.P. Morgan. “The growing digital economy in MENA presents a unique opportunity to support our clients through innovation, and we are eager to continue shaping the future of finance with our partners in the region.”
For further insights into J.P. Morgan’s blockchain initiatives, visit their official page on J.P. Morgan Payments.
