{"id":1398,"date":"2024-10-22T14:34:18","date_gmt":"2024-10-22T14:34:18","guid":{"rendered":"https:\/\/pkfin.kotenterprises.dev\/?p=1398"},"modified":"2025-01-14T15:31:28","modified_gmt":"2025-01-14T15:31:28","slug":"emirates-nbd-becomes-first-regional-bank-to-join-partior","status":"publish","type":"post","link":"https:\/\/pkfin.kotenterprises.dev\/?p=1398","title":{"rendered":"Emirates NBD Becomes First Regional Bank to Join Partior, Pioneering Blockchain-Powered Payments"},"content":{"rendered":"\r\n

Dubai, 22 October 2024<\/strong>\u00a0\u2013\u00a0Emirates NBD<\/a>, one of the leading banking groups in the Middle East, North Africa, and T\u00fcrkiye (MENAT) region, has entered into a strategic agreement with\u00a0Partior<\/a>, a blockchain-based payment clearing and settlement platform. This collaboration positions Emirates NBD as the first regional bank to offer real-time payment settlements in UAE Dirhams, Saudi Riyals, and Indian Rupees on the Partior network, providing its clients with 24\u00d77 payment availability and faster, more seamless transaction flows.<\/p>\r\n\r\n\r\n\r\n

Through this partnership, Emirates NBD will not only become the region\u2019s pioneer settlement bank on the platform, but it will also participate in clearing major foreign currencies, significantly enhancing its real-time payments infrastructure. This move will bolster the bank\u2019s client offering, ensuring swifter and more transparent cross-border transactions.<\/p>\r\n\r\n\r\n\r\n

Partior, launched in 2021 and backed by financial giants including DBS Bank, J.P. Morgan, Standard Chartered, Temasek, and Peak XV, is at the forefront of developing a unified blockchain ledger for payments. The platform enables real-time clearing and settlement, overcoming the limitations of traditional payment systems that rely on sequential processing, thereby offering instant liquidity and enhanced transparency.<\/p>\r\n\r\n\r\n\r\n

Additionally, Emirates NBD is evaluating an equity investment in Partior, further aligning itself with the global shift towards blockchain-based financial ecosystems. By integrating with Partior\u2019s unified ledger platform, Emirates NBD aims to enhance efficiency, security, and transparency in global payment and settlement processes.<\/p>\r\n\r\n\r\n\r\n

Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, emphasized the importance of this partnership: \u201cOur collaboration with Partior is a pivotal element of our broader strategy to embrace new technologies in an ever-evolving digital landscape. By leveraging Partior\u2019s 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.\u201d<\/p>\r\n\r\n\r\n\r\n

Neeraj Makin, Group Head of Strategy \u2013 Analytics and Venture Capital at Emirates NBD, added: \u201cThe investment from Emirates NBD\u2019s Innovation Fund is a key milestone in Partior\u2019s journey as a leader in next-generation payment infrastructure. We firmly believe in the transformative potential of blockchain for financial services, particularly in cross-border transactions. This investment opens up opportunities for cross-market collaboration and the creation of a seamless cross-currency payments ecosystem that will reduce friction and enhance transparency for businesses and clients.\u201d<\/p>\r\n\r\n\r\n\r\n

Humphrey Valenbreder, Chief Executive Officer of Partior, commented: \u201cThis collaboration positions Emirates NBD as Partior\u2019s gateway to the vibrant MENAT region, in line with our strategic roadmap to expand in the Middle East. By integrating our blockchain capabilities with Emirates NBD\u2019s trusted network, we are strengthening both operational capabilities and our shared commitment to driving economic growth and innovation through enhanced cross-border transaction efficiency and security.\u201d<\/p>\r\n\r\n\r\n\r\n

This partnership underscores Emirates NBD\u2019s commitment to leveraging cutting-edge blockchain technologies to improve financial solutions for its clients, while Partior\u2019s blockchain platform paves the way for the future of global value exchange.<\/p>\r\n","protected":false},"excerpt":{"rendered":"

Dubai, 22 October 2024 – Emirates NBD, one of the leading banking groups in the Middle East, North Africa, and Türkiye (MENAT) region, has entered into a strategic agreement with Partior, a blockchain-based payment clearing and settlement platform. This collaboration positions Emirates NBD as the first regional bank to offer real-time payment settlements in UAE Dirhams, Saudi Riyals, […]<\/p>\n","protected":false},"author":1,"featured_media":1399,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[7],"tags":[852,226,850,402,14,851,455],"class_list":["post","format-standard"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t