Emirates NBD, a leading banking group in the region, has entered into a strategic agreement with Partior to explore participation in their blockchain-based platform for clearing and settlement. This collaboration will offer Emirates NBD’s clients 24×7 availability, faster, and more seamless payment flows.
As part of the partnership, 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, the bank is looking to serve as a participating bank for major foreign currencies.
“Our partnership with Partior is a critical element of our broader strategy to embrace new technologies in an ever-evolving digital landscape,” stated Ahmed Al Qassim, group head of wholesale banking at Emirates NBD.
Emirates NBD to invest in Partior
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. This enables real-time clearing and settlement for instant liquidity and transparency. Moreover, it overcomes challenges with sequential processing in legacy payment systems.
Emirates NBD is also evaluating an equity investment in Partior. This move would represent a strategic alignment within the financial ecosystem that seeks to redefine the future of global value exchange. By integrating with Partior’s blockchain-based unified ledger platform, the bank will enhance transparency and efficiency. Moreover, it will bolster security in global payments and settlement processes.
“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,” added Al Qassim.
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Blockchain’s transformative potential
Neeraj Makin, group head of strategy – analytics and venture capital at Emirates NBD, explained that the bank’s investment in Partior marks a milestone in the company’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,” he added.
In addition, Makin noted that the investment would create cross-market collaboration and the development of a seamless cross-currency payments ecosystem.
“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,” stated Humphrey Valenbreder, CEO of Partior.
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