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JPMorgan partners with 8 banks to expand in the Middle East and North Africa
Digital Technical Cooperation: JPMorgan Chase and MENA Banks
JPMorgan Chase, through its blockchain division Kinexys ( formerly known as Onyx), has announced a partnership with eight major banks in the Middle East and North Africa. The list of key partners includes Qatar National Bank, Saudi National Bank, First Abu Dhabi Bank, Emirates NBD Bank, Dubai Commercial Bank, and Bank ABC.
The main objective of this collaboration is to enhance the efficiency of transactions and fund management through the Kinexys platform. This promises to improve cross-border payment capabilities, a crucial factor in driving the development of the region.
Although representatives of JPMorgan Chase have not disclosed the names of the other two banks, this partnership has created a significant attraction and has the potential to expand into many other markets. The use of advanced blockchain technology promises to consistently reduce costs and enhance the speed of financial transactions.
The information above is intended to provide market data and does not constitute investment advice.
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