Emirates NBD, the UAE's largest lender, has entered a partnership with Partior to enable blockchain-based settlement for cross-border payments. The arrangement allows the bank to route dollar transfers through a blockchain network rather than traditional correspondent banking channels.
Partior, a consortium-backed payments platform launched by a group including JPMorgan and DBS, operates a private blockchain designed for real-time settlement between financial institutions. The partnership positions Emirates NBD to move cross-border transactions to these settlement rails, potentially reducing the time and intermediaries required in dollar transfers across the region.
EmirateS NBD is among the first banks in the Middle East to adopt blockchain-based settlement infrastructure for cross-border payments. The bank has annual cross-border volumes exceeding $100 billion, according to its own statements. Partior's network currently connects banks across multiple countries and handles transactions in USD, AED, SAR and INR.
Traditional correspondent banking for cross-border dollar payments typically involves multiple intermediary banks, each adding processing time and fees. Settlement can take two to three days. Blockchain-based settlement reduces the number of intermediaries and can complete within minutes, though the exact operational timeline for Emirates NBD's deployment has not been specified.
The partnership was announced in October 2024 as an exploratory initiative. The bank has not yet disclosed a live deployment date or specific transaction volumes processed through the network.
