Emirates NBD, a leading banking group in the Middle East, North Africa, and Türkiye (MENAT) region, has entered into a strategic agreement with Partior, a blockchain-based platform for clearing and settlement. This collaboration will enable Emirates NBD to offer its clients 24/7 availability and faster, more efficient payment flows through blockchain technology.
As part of this partnership, Emirates NBD will become the first regional settlement bank for the UAE Dirham, Saudi Riyal, and Indian Rupee on Partior’s platform. Additionally, the bank aims to serve as a participating bank for major foreign currencies, enhancing its client offerings with real-time payments.
Partior, launched in 2021 and backed by DBS Bank, J.P. Morgan, Standard Chartered, Temasek, and Peak XV, is at the forefront of blockchain technology for real-time clearing and settlement. Its unified ledger system provides instant liquidity and transparency, addressing inefficiencies often seen in traditional payment systems.
Emirates NBD is also considering an equity investment in Partior, signaling a deeper strategic alignment within the global financial ecosystem. By integrating with Partior’s platform, Emirates NBD seeks to enhance the transparency, efficiency, and security of global payment processes.
Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, emphasized the importance of this partnership: “Our collaboration with Partior is a key element of our strategy to embrace emerging technologies. By leveraging blockchain, we are future-proofing our operations and ensuring our clients benefit from a seamless, advanced payment infrastructure.”
Neeraj Makin, Group Head of Strategy – Analytics and Venture Capital at Emirates NBD, added: “This investment reflects our confidence in blockchain’s transformative potential for cross-border transactions. It opens opportunities for cross-market collaboration and the development of a frictionless cross-currency payments ecosystem.”
Humphrey Valenbreder, CEO of Partior, noted: “This partnership positions Emirates NBD as our gateway to the MENAT region, aligning with our strategic roadmap to expand in the Middle East. Together, we aim to elevate the efficiency and security of cross-border transactions, driving growth and innovation.”
This partnership marks a significant step towards enhancing payment infrastructures and driving economic growth across the MENAT region through blockchain innovation.
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