JPMorgan Partners with Eight MENA Banks to Expand Blockchain Use

JPMorgan’s blockchain unit, Kinexys, has forged strategic partnerships with eight major banks in the Middle East and North Africa (MENA) region. This expansion will integrate blockchain technology into regional banking systems, aiming to improve cross-border payments efficiency and drive financial innovation. 24/7 real-time settlement capabilities are now a key feature of Kinexys Digital Payments through these collaborations, promising reduced transaction costs and faster settlements for participating banks. This move marks a significant step towards revolutionizing cross-border payments in the region.