Emirates NBD has started offering real-time cross-border U.S. dollar payments using blockchain technology, tapping into the Partori network and settling through JPMorgan. This move makes it the first financial institution in the MENAT region to provide blockchain-enabled USD transfers.
Instant settlements via JPMorgan
The bank's new service allows customers to send USD across borders with instant settlement. That's a major shift from traditional wire transfers, which can take one to three business days. JPMorgan handles the final settlement, so the funds reach the recipient almost immediately.
A regional first
Emirates NBD is the first bank in the Middle East, North Africa, and Turkey (MENAT) region to offer such blockchain-based USD payments. The region has lagged behind Asia and Europe in adopting real-time cross-border rails. This move puts the Dubai-based lender ahead of its peers. It also signals that major regional banks are now ready to deploy blockchain for core payment flows, not just experiments.
The Partori network
The payments run on Partori, a blockchain-based network designed for cross-border transactions. Partori is not as well-known as Ripple or SWIFT, but it has been quietly building institutional adoption. By plugging into Partori, Emirates NBD gets access to a permissioned ledger that can handle compliance and settlement without the friction of correspondent banking chains. JPMorgan's role as the settlement bank adds a layer of trust for regulators and corporate clients.
The timing is no coincidence. Cross-border payment volumes in the Gulf have been rising as trade and remittance flows increase. Banks are under pressure to offer faster, cheaper options. Emirates NBD's move gives it a product to pitch to corporate treasurers and high-net-worth individuals who move large sums regularly.
It is not yet known whether the bank plans to extend the service to other currencies or to retail customers. For now, the focus is on USD — the dominant currency for trade in the region.
