jordan pulse -

Arab Bank, a leading financial institution in the Middle East and North Africa, has announced the adoption of J.P. Morgan’s Kinexys digital payments platform. This move enables the bank’s ecosystem in the Middle East to process payments through a blockchain-based network, marking a significant step in the bank’s ongoing efforts to modernize its transaction banking and payment services.
​Through this collaboration, selected branches across Arab Bank’s network will utilize the Kinexys blockchain network to explore cross-border payment solutions, liquidity management, and enhanced operational efficiency. This initiative aligns with Arab Bank’s broader digital transformation strategy.
​The Kinexys platform provides a scalable blockchain-based deposit account network that offers 24/7 commercial payment settlement and cash liquidity management. This allows Arab Bank’s corporate and individual clients to conduct transactions outside of traditional market hours, bypassing the constraints of conventional market closing times.
​Maram Al-Jazira, Head of Financial Institutions and Sustainability at Arab Bank, commented that this step reflects the strong, long-term relationship with J.P. Morgan. She noted that the collaboration represents a new milestone in updating the bank’s digital infrastructure to provide a more flexible and responsive banking experience.
​Akshika Gupta, Global Head of Key Client Solutions for Digital Payments at J.P. Morgan Singapore, expressed excitement in supporting Arab Bank’s endeavors to innovate its global network through blockchain technology, aiming to build a next-generation financial infrastructure for the region.