Emirates NBD to explore Partior blockchain for payment settlements

Emirates NBD to explore Partior blockchain for payment settlements

Emirates NBD, in MENAT (Middle East, North Africa, and Türkiye) region, has partnered with Partior, a decentralized, programmable, and always-on platform making the global movement of liquidity more seamless, secure, and scalable, to explore participation in their blockchain platform for clearing and settlement, a collaboration that will offer Emirates NBD’s clients 24×7 availability, and faster, more seamless payment flows.

Emirates NBD will join the Partior network, becoming the first regional and UAE Dirham, Saudi Riyal and Indian Rupee settlement bank on the platform. In addition, Emirates NBD is looking to serve as a participating bank for major foreign currencies, in a move that bolsters its client offerings to provide real-time payments.

Launched in 2021, Partior is backed by DBS Bank, J.P. Morgan, Standard Chartered, Temasek, and Peak XV. The platform has pioneered the development of a blockchain-based unified ledger for payments, enabling real-time clearing and settlement for instant liquidity and transparency, and overcoming challenges commonly associated with sequential processing in legacy payment systems.

Emirates NBD is also evaluating an equity investment in Partior, a move that would represent a strategic alignment within the financial ecosystem aimed at redefining the future of global value exchange. By integrating with Partior’s blockchain-based unified ledger platform, the bank will enhance transparency, efficiency, and security in global payments and settlement processes.

Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, commented, “Our partnership with Partior is a critical element of our broader strategy to embrace new technologies in an ever-evolving digital landscape. Our commitment to innovation is driven by the need to ensure we provide our clients with the most advanced financial solutions. By leveraging Partior’s transformative blockchain technology, we are not only future-proofing our operations but also creating a seamless payment infrastructure that supports the rapidly evolving business needs of our clients.”

Neeraj Makin, Group Head of Strategy – Analytics and Venture Capital at Emirates NBD, said, “The investment from Emirates NBD’s Innovation Fund represents an important moment in Partior’s journey as a leader in next-generation payments infrastructure. It underscores our belief in blockchain’s transformative potential for financial services, particularly in cross-border transactions. What is truly exciting about this investment is the opportunity it creates for cross-market collaboration and the development of a seamless cross-currency payments ecosystem. This will enhance transparency and reduce friction for businesses and clients alike.”

Humphrey Valenbreder, Chief Executive Officer at Partior, added, “This collaboration positions Emirates NBD as Partior’s gateway to the vibrant MENAT region, aligning with our strategic roadmap to expand in the Middle East. By integrating our blockchain capabilities with Emirates NBD’s trusted network, we are not only strengthening our operational capabilities but also reinforcing our shared commitment of elevating the efficiency and security of cross-border transactions to drive economic growth and innovation across the region.”

Prior to this, Ctrl Alt, a leading financial engineering and tokenization platform that utilizes blockchain technology, with offices in the UK and Ireland, has set up its office in Dubai UAE in DMCC ( Dubai Multi Commodities Center), after partnering with Emirates NBD. It intends to serve Dubai initially as it plans expansion into MENA region. ‍

Additionally Chainalysis the blockchain data platform, joined Emirates NBD, digital asset Lab. Chainalysis, the blockchain data platform, will join professional services firm PwC, digital asset transfer and direct custody technology platform Fireblocks, and R3, an enterprise Distributed ledger technology platform, as founding council members of the Lab.

Qatar tests CBDC for settlement of large payments

Qatar tests CBDC for settlement of large payments

 The Qatar Central Bank (QCB) has announced the completion of the development of the infrastructure for the Central Bank Digital Currency Project (CBDC) and the commencement of testing of CBDC for settlement of large payments with local banks. According to the press release, this initiative will serve as a proactive step to keep pace with the rapid global developments in this field.

Qatar Central Bank confirms that, after successfully completing the comprehensive study conducted in this field, it will proceed with testing and developing selected applications for the CBDC to settle large payments with a group of local and international banks in a trial environment designed according to the latest advanced technologies.

The project will focus on the applications of the CBDC to increase access to capital markets for operating banks in the country, enhance domestic settlement, and improve the efficiency of securities transactions.

This project, which will enter its first experimental phase extending to October 2024, aims to achieve a set of primary objectives, including leveraging artificial intelligence technologies, distributed ledger technology (DLT), and emerging technologies and establish a strong foundation to enhance liquidity by expanding participation in financial market facilities, considering the aspects related to information security during project implementation.

In line with the Third Financial Sector Strategy, the Fintech Strategy, and Qatar National Vision 2030, and based on Qatar Central Bank’s ongoing efforts to regulate and develop the financial sector in the country, Qatar Central Bank announced the completion of the development of the infrastructure for the Central Bank Digital Currency Project (CBDC), QCB said in a press release.

This project reflects Qatar Central Bank’s full commitment to contributing to digital transformation within the financial sector, noting in this context that the start of the CBDC project represents an important milestone and a strategic step towards building a digital economy in the country.

It was also noted that the results of this experiment will be the cornerstone towards identifying the different use cases that the Qatar Central Bank will adopt in the future, which will contribute to enhancing the efficiency of the current systems and instant settlement.

In April 2023 Qatar Financial Centre Authority and Blockchain solution provider R3 signed an MOU to develop and grow Qatar’s fintech industry using technologies such as DLT (Distributed Ledger Technology). Soon after, QFC announced one of the biggest digital assets initiatives in the country and the GCC region, the Qatar Innovation Dome for digital assets. The digital assets lab will develop tokenization platforms and ecosystems for everything that has value whether tangible assets or intangible assets including real estate assets, securities, Sukuk, bonds and others in the future utilizing DLT ( distributed ledger technologies), blockchain, and smart contracts.

In May 2024 The Hashgraph Association (THA), the Swiss-based organization at the forefront of global digital enablement, signed a strategic partnership with the Qatar Financial Centre to launch a Digital Assets Venture Studio, a platform to support local Qatari and international portfolio companies in the development of regulatory-compliant decentralized finance (DeFi) solutions and digital assets built on the Hedera Distributed Ledger Technology (DLT) network.


The $50 million digital assets venture studio will focus on investments in Hedera-powered Web3 startups and enterprises building bankable DeFi solutions. The program will span over the next five years (2024-2028) with The Hashgraph Association investing $10million (20%).