QNB’s Shift to JPMorgan Kinexys May Enable Near‑Instant 24/7 Payments, Potentially Boosting USDT Flows

• 24/7 near-instant payments:

• Kinexys is a permissioned blockchain that moves deposits held at JPMorgan in real time.

• Kinexys reports ~$3 billion daily; JPMorgan handles about $10 trillion in total daily payments.

QNB Kinexys integration: Qatar National Bank adopts JPMorgan’s Kinexys for near-instant corporate payments; learn impact, volumes, and next steps for treasurers.

What is QNB’s Kinexys integration and why does it matter?

QNB Kinexys integration is Qatar National Bank’s adoption of JPMorgan’s Kinexys permissioned blockchain to process corporate payments. The move replaces slow, weekday-bound rails with a 24/7 settlement system, enabling treasurers to execute guaranteed payments in minutes and improving liquidity management.

How does Kinexys enable near-instant corporate payments?

Kinexys runs on a permissioned ledger that records and settles transfers of balances held on deposit at JPMorgan in real time. The platform’s access-control layer limits operations to authorized participants, reducing settlement risk and allowing payments to clear in as little as two minutes under typical conditions.

“It’s a treasurer’s dream,” said Kamel Moris, highlighting how the bank’s shift to JPMorgan’s Kinexys blockchain enables near-instant, 24/7 payments.

Qatar National Bank Group (QNB), one of the Middle East’s largest banks, has adopted JPMorgan’s blockchain platform, Kinexys, to process corporate payments in Qatar, according to a Bloomberg report published Monday.

The switch marks a departure from the constraints of traditional banking infrastructure, where cross-border and large corporate payments are often restricted to business days and can take multiple days to settle.

In a Bloomberg interview, Kamel Moris, executive vice president of transactional banking at QNB, described the development as a “treasurer’s dream,” noting the platform’s continuous availability. “We can guarantee payments as fast as two minutes,” he said, highlighting the operational benefits for corporate cash management.

Journalists reached out to QNB for further comment but received no additional response by publication.

How big is Kinexys’ transaction volume?

Kinexys processes about $3 billion in daily transactions, per the platform announcement. That figure represents a small portion of JPMorgan’s broader payments activity, which the bank reports at approximately $10 trillion in total daily payments across all channels.

The permissioned design lets participating clients move deposits held at JPMorgan in real time while enforcing access controls and participant permissions. This differs from permissionless public blockchains, where anyone can validate or submit transactions.

In June, Kinexys ran a cross-chain delivery versus payment (DvP) test with Chainlink and Ondo Finance that connected a public testnet and a permissioned payment network. The test focused on settlement mechanics for tokenized real-world assets (RWA) and demonstrated cross-environment atomic settlement possibilities.

What did JPMorgan leadership say about stablecoins?

JPMorgan CEO Jamie Dimon told CNBC on Sept. 23 that he is “not particularly worried” about stablecoins as a direct threat to the bank’s business model. Dimon emphasized that bank executives must monitor developments, particularly regulatory changes and market growth.

Data from RWA.xyz indicated stablecoin net inflows grew by over 320% in Q3, with major issuers USDT and USDC leading inflows. These trends underscore increasing market interest in stablecoin liquidity even as banks expand permissioned payment rails.

Frequently Asked Questions

How fast can payments settle on Kinexys?

Payments on Kinexys can settle in as little as two minutes under normal conditions, providing near-instant settlement windows compared with multiday bank transfers.

Is Kinexys a public blockchain?

No. Kinexys is a permissioned blockchain, meaning access and transaction rights are restricted to authorized participants and governed by an access-control layer.

Key Takeaways

• Instant settlement: Kinexys enables near-instant corporate payments, improving treasury efficiency.
• Permissioned security: Access controls limit network actions to authorized participants, reducing risk.
• Real-world traction: Kinexys reports ~$3B daily volume and has tested cross-chain settlement with RWA partners.

Conclusion

The QNB Kinexys integration marks a significant step toward 24/7, near-instant corporate payment rails using a permissioned blockchain. Banks and treasurers should evaluate operational, compliance, and liquidity impacts while monitoring stablecoin and RWA developments for broader market implications. COINOTAG will continue tracking implementation and industry responses.