QNB Adopts JPMorgan’s Blockchain for Real-Time Dollar Payments

Qatar National Bank (QNB) has integrated JPMorgan's Onyx Digital Payments system, enabling near-instant dollar settlements for corporate clients. The blockchain-based solution processes transactions in minutes—even during weekends—contrasting sharply with traditional banking's multi-day delays. "It's a treasurer's dream," said QNB's Kamel Moris, highlighting demand for financial velocity matching digital-era expectations.

JPMorgan's Onyx network now handles $3 billion daily, a fraction of its $10 trillion traditional payment volume. The bank aims to leverage its global correspondent relationships to scale the platform. While distributed ledger technology gains traction among financial institutions, most implementations remain experimental after a decade of testing.