Emirates NBD Taps Blockchain for Instant Cross-Border Payments

Dubai-based Emirates NBD has started processing real-time cross-border U.S. dollar payments through the Partior blockchain network. The service is initially available to eligible corporate and institutional clients, marking the bank’s first live use of Partior’s blockchain settlement infrastructure.

Announced on July 14, the service initially supports U.S. dollar transfers to beneficiaries with J.P. Morgan accounts. J.P. Morgan also participated in the first live transaction as both the settlement and beneficiary bank. The system allows eligible payments to settle in real time, giving businesses faster processing and better visibility into transaction status.

Blockchain Targets Payment Delays

Cross-border payments often pass through several intermediary banks before reaching their destination, adding time and costs to international transfers. Emirates NBD said its new blockchain-based service allows eligible U.S. dollar payments to clear and settle in real time within a regulated banking framework, reducing reliance on traditional processing windows.

Anith Daniel, Group Head of Transaction Banking Services at Emirates NBD, said, “Moving from partnership to live execution on the Partior network enables us to offer faster USD settlement.” He said the service would help businesses manage cross-border payments and treasury operations more efficiently.

Expansion Plans Already Underway

The U.S. dollar payment service is the first step in Emirates NBD’s plans to expand its use of the Partior network. The bank said it intends to connect with more financial institutions over time, giving clients access to additional currencies and cross-border payment routes.

Emirates NBD also plans to use the network for programmable liquidity management, which could help businesses manage cash across different markets more efficiently. Partior’s platform allows participating banks to clear and settle payments around the clock instead of relying on traditional banking hours.

Crypto Adoption Supports Broader Strategy

The launch follows a series of digital asset initiatives across the Emirates NBD group. In March, Liv, the bank’s digital platform, introduced cryptocurrency trading through its mobile app in partnership with Aquanow and Zodia Custody.

Emirates NBD has also explored Bitcoin as part of its investment strategy, although Group Chief Investment Officer Maurice Gravier said the bank has not bought the cryptocurrency directly.

The move comes as digital asset activity continues to grow in the United Arab Emirates. According to Chainalysis, the United Arab Emirates received more than $30 billion in cryptocurrency between July 2023 and June 2024.

Related: Aave Taps Chainlink CCIP to Power Cross-Chain Mobile Operations