Emirates NBD has launched a new cross-border payment service through the Partior network, becoming the first financial institution in the Middle East to enable real-time multi-currency clearing and settlement using blockchain technology.

The bank said the first phase enables real-time US dollar settlements, with plans to expand the service to additional currencies, settlement channels and more participating banks as the Partior network grows.

The rollout follows the successful execution of instant US dollar transactions, with JPMorgan acting as the settlement and beneficiary bank. The service allows Emirates NBD's corporate and institutional clients to complete cross-border US dollar payments instantly while maintaining beneficiary accounts with JPMorgan.

Aneeth Daniel, Group Head of Transaction Banking at Emirates NBD, said the move to direct execution on the Partior network delivers faster US dollar settlements and improves treasury and liquidity management for clients.

He added that the launch demonstrates the bank's ability to deploy secure, scalable payment solutions and successfully execute direct cross-border transactions with global counterparties.

Partior CEO Humphrey Valenbreder said the collaboration combines Emirates NBD's regional strength with Partior's blockchain-based clearing and settlement infrastructure to enable faster and more efficient global payments.