J.P. Morgan’s blockchain-based platform, Kinexys, is experiencing a surge in adoption across the Middle East and North Africa (MENA) region, with a growing number of top-tier financial institutions integrating its capabilities to modernize cross-border payments, streamline liquidity management, and support round-the-clock treasury operations.
Formerly operating under the Onyx brand, Kinexys is part of J.P. Morgan’s broader strategy to rewire traditional banking infrastructure through distributed ledger technology. Its flagship offering, Kinexys Digital Payments, enables instant, programmable, and highly transparent fund transfers between institutions, bypassing the limitations of legacy systems and aligning with the global shift toward real-time financial operations.
Qatar National Bank (QNB), the largest financial institution in the MENA region by assets, recently integrated Kinexys to improve the efficiency of corporate U.S. dollar transactions. The platform addresses longstanding pain points around fragmented settlement systems and liquidity mismatches, helping banks like QNB to reduce intraday risk and enhance capital utilization. Saudi National Bank (SNB), another regional heavyweight, is using Kinexys to facilitate seamless treasury payments between its own branches and affiliates, with plans to extend the functionality to selected large corporate clients.
These institutions are part of a broader wave of regional adoption. A total of eight major banks in the MENA region have now onboarded Kinexys, including First Abu Dhabi Bank, Bank ABC, and Commercial Bank of Dubai. This network effect not only enhances the value proposition of the platform but also reinforces regional momentum toward blockchain-powered financial infrastructure.
J.P. Morgan has long positioned Kinexys as a cornerstone of its vision for the future of finance—one where programmable money and automated settlements drive operational efficiency and support global commerce. The Middle East, with its increasing appetite for digital transformation and advanced fintech solutions, presents a natural fit for this ambition.
The uptake of Kinexys also reflects a broader trend in which global banks are looking to de-risk and de-layer cross-border transactions, a priority amid tighter liquidity conditions and a more fragmented global payments landscape. By enabling banks to execute and settle transactions instantly across time zones, Kinexys offers a strategic tool for institutions aiming to modernize treasury operations while maintaining regulatory and operational integrity.
As adoption deepens, Kinexys is positioning itself as a key enabler of next-generation financial services across the MENA region, bridging digital innovation with institutional-grade infrastructure.
