Emirates NBD, a prominent banking group in the MENAT region, has announced a strategic partnership with Partior, a blockchain-based platform for clearing and settlement, which aims to offer Emirates NBD’s clients around-the-clock availability and faster, more efficient payment flows.
Through this partnership, Emirates NBD becomes the first regional bank to join the Partior network, enabling settlement services in UAE Dirham, Saudi Riyal, and Indian Rupee.
The bank also plans to expand its participation by offering real-time payments in major foreign currencies, enhancing its client offerings with a focus on speed and transparency.
Partior, launched in 2021, is backed by major financial institutions like DBS Bank, J.P. Morgan, Standard Chartered, Temasek, and Peak XV. The platform’s blockchain-based unified ledger allows for real-time clearing and settlement, improving liquidity and transparency while streamlining processes compared to traditional payment systems.
Additionally, Emirates NBD is considering an equity investment in Partior, signaling a deeper strategic alignment in the financial ecosystem. By integrating with Partior’s platform, Emirates NBD aims to enhance the transparency, efficiency, and security of global payment and settlement processes.
Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, stated, “Our partnership with Partior is a crucial step in embracing new technologies and ensuring our clients receive the most advanced financial solutions. By leveraging blockchain, we are creating a seamless payment infrastructure that supports the evolving business needs of our clients.”
Neeraj Makin, Group Head of Strategy at Emirates NBD, added, “This investment marks an important milestone in Partior’s journey and highlights the transformative potential of blockchain in cross-border transactions. It opens opportunities for cross-market collaboration and the development of a seamless cross-currency payment ecosystem.”
Partior’s CEO, Humphrey Valenbreder, emphasized the significance of this partnership, noting that it aligns with their goal to expand in the Middle East. “By integrating our blockchain capabilities with Emirates NBD’s trusted network, we are driving economic growth and innovation across the region,” he said.
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