QNB Don Use JPMorgan Kinexys For Instant USD Transfers
QNB Group, di biggest bank for Qatar, don adopt JPMorgan Kinexys blockchain network to run USD corporate payments for realtime. The system come take over batch-based cross-border transactions with 24/7 settlement, wey don cut transfer time from days to like two minutes. Kinexys blockchain wey dem launch for 2019 dey handle almost $3 billion daily transfers now, and dem want make e big pass by adding more financial institutions for JPMorgan global banking network. Kamel Moris, di head for transactional banking for QNB, talk say this upgrade na "treasurer dream" for fast cash flow and to reduce payment wahala. Analysts talk say dis step na big move towards large-scale distributed ledger technology adoption for corporate treasury. Meanwhile, SWIFT dey do im own blockchain trials with BNP Paribas and BNY Mellon, and dem go drop the pilot results soon.
Neutral
QNB dey use JPMorgan Kinexys private blockchain network for USD corporate payments show say institutions get confidence for distributed ledger technology but e no involve public cryptocurrencies or tokens. For short term, the move to near-instant settlement fit increase interest for enterprise blockchain solutions but e no go affect trading volumes or prices of public crypto assets. For long term, more institution use of permissioned ledgers fit drive investments for related blockchain infrastructure and technologies, but the direct impact for public crypto markets still limited. So, this news na neutral for public cryptocurrency prices.