Summary
- JP Morgan's blockchain division Kinexys has reportedly formed a partnership with eight major banks in the Middle East.
- This partnership aims to simplify cross-border payments, enhance financial operations, and improve transaction efficiency.
- Kinexys' Global Co-Head emphasized that this agreement will serve as a foundation for global expansion.
JP Morgan's blockchain division Kinexys is expanding its business with a focus on the Middle East region.
According to ff News on the 1st (local time), Kinexys has formed partnerships with eight banks, including Qatar National Bank, Saudi National Bank, First Abu Dhabi Bank, Emirates NBD, Dubai Commercial Bank, and ABC Bank. The names of the remaining two banks have not yet been disclosed.
These financial institutions have reportedly formed partnerships to simplify cross-border payments, enhance financial operations, and improve transaction efficiency using Kinexys' digital payment platform.
Naveen Malrela, Kinexys Global Co-Head, stated, "With the largest eight banks in the Middle East using Kinexys' digital payment platform, we have been able to lay the groundwork for expansion worldwide."
Uk Jin
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