Overview
- Emirates NBD announced it is live on the Partior network, enabling real-time USD payments for corporate and institutional clients whose beneficiaries hold accounts at J.P. Morgan.
- The initial launch is a phase one deployment in which Emirates NBD acts as a USD participant rather than a settlement bank and J.P. Morgan provides settlement and beneficiary functions.
- The go-live follows earlier test activity including a successful live USD transaction where J.P. Morgan served as both settlement bank and beneficiary bank.
- Partior is a multi-bank blockchain clearing and settlement platform founded by DBS, J.P. Morgan and Standard Chartered that traces technical roots to Singapore’s Project Ubin and does not settle with wholesale central bank digital currency.
- Faster same-day settlement should ease treasury and cash-management frictions for corporate clients and could reduce reliance on traditional correspondent chains if Partior expands to more banks and currencies such as the UAE dirham, Saudi riyal and Indian rupee.