Emirates NBD Partners Partior For Cross-border Payments

Emirates NBD is also evaluating an equity investment in Partior, a move that would represent a strategic alignment within the financial ecosystem to redefine the future of global value exchange.

Emirates NBD will become the first regional settlement bank for UAE Dirham, Saudi Riyal, and Indian Rupee on the Partior network. By integrating with its blockchain-based unified ledger platform, the bank will enhance transparency, efficiency, and security in global payments and settlement processes.

Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, commented: “Our partnership with Partior is a critical element of our broader strategy to embrace new technologies in an ever-evolving digital landscape.

“Our commitment to innovation is driven by the need to ensure we provide our clients with the most advanced financial solutions. By leveraging Partior’s transformative blockchain technology, we are not only future-proofing our operations but also creating a seamless payment infrastructure.”

Launched in 2021, Partior is backed by DBS Bank, JP Morgan, Standard Chartered, Temasek, and Peak XV. The platform has pioneered the development of a blockchain-based unified ledger for payments, enabling real-time clearing and settlement for instant liquidity and transparency, and overcoming challenges commonly associated with sequential processing in legacy payment systems.

Humphrey Valenbreder, Partior’s Chief Executive Officer, added, “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 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 in the region.”

On the bank’s investment in Partior, 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.”

Emirates NBD has a presence in 13 countries, serving over 9 million active customers. It has total assets of AED 956 billion ($260 billion) as on 30 September 2024. The group has a total of 859 branches and 4,512 ATMs/SDMs with operations in the UAE, Egypt, India, Türkiye, Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain, and representative offices in China and Indonesia.