Emirates NBD has entered a strategic agreement with Singapore-based blockchain platform Partior to improve its cross-border payment capabilities.
The partnership will allow Emirates NBD to offer clients faster, around-the-clock payment processing through Partior’s blockchain-based platform for clearing and settlement.
As part of the deal, Emirates NBD will reportedly become the first bank in the region to facilitate settlement in UAE Dirhams, Saudi Riyals, and Indian Rupees on the platform.
The bank also plans to support settlements in other major foreign currencies, further expanding its real-time payment services.
Partior, launched in 2021 and backed by DBS Bank, J.P. Morgan, Standard Chartered, Temasek, and Peak XV, offers a blockchain-driven unified ledger for real-time payment processing.
This system enables instant liquidity, transparency, and efficiency, overcoming the limitations of traditional payment methods.
Emirates NBD is also evaluating an equity investment in Partior as part of its broader strategy to adopt new financial technologies.
Neeraj Makin, Group Head of Strategy – Analytics and Venture Capital at Emirates NBD, said,
“The investment from Emirates NBD’s Innovation Fund represents an important moment in Partior’s journey as a leader in next-generation payments infrastructure. It underscores our belief in blockchain’s transformative potential for financial services, particularly in cross-border transactions.
What is truly exciting about this investment is the opportunity it creates for cross-market collaboration and the development of a seamless cross-currency payments ecosystem. This will enhance transparency and reduce friction for businesses and clients alike.”
Humphrey Valenbreder, Chief Executive Officer at Partior, said,
“This collaboration positions Emirates NBD as Partior’s gateway to the vibrant MENAT region, aligning with our strategic roadmap to expand in the Middle East.
By integrating our blockchain capabilities with Emirates NBD’s trusted network, we are not only strengthening our operational capabilities but also reinforcing our shared commitment of elevating the efficiency and security of cross-border transactions to drive economic growth and innovation across the region.”
Featured image credit: Edited from Freepik
