Saudi National Bank Goes Live on J.P. Morgan's Kinexys Blockchain for Programmable Treasury Payments

Saudi National Bank (SNB), the Kingdom's largest bank, has gone live on Kinexys Digital Payments (KDP), the blockchain-based payments network operated by J.P. Morgan, to power real-time programmable payments for its Treasury operations.

The integration, which went live in February 2025 and was formally announced by J.P. Morgan on 2 May 2025, allows SNB to move funds programmatically across branches and settle treasury obligations on a 24/7 basis without traditional cut-off times. SNB has successfully piloted U.S. dollar-denominated flows and plans to extend the capability to branches, affiliates and select large corporate clients in phases.

"Bank of Tomorrow"

Ali Al Shubbar, Head of Treasury Operations and International Operations at Saudi National Bank, said: "We have leveraged the next-generation Kinexys Digital Payments blockchain network alongside our digital banking capabilities to facilitate seamless cross-border payments."

SNB has positioned the deployment as part of its wider "Bank of Tomorrow" strategy and a contribution to Saudi Arabia's ambitions for regional leadership in financial technology.

Kinexys hits 8 MENA banks

The SNB go-live, alongside a mandate from Qatar National Bank, brings the number of major MENA financial institutions live on Kinexys to eight, joining First Abu Dhabi Bank, Emirates NBD, Commercial Bank of Dubai, Bank ABC and others.

Across the broader Kinexys platform, J.P. Morgan reports more than USD 1.5 trillion processed since inception, over USD 2 billion in daily average transaction volume, and 10x year-on-year growth in payment transactions.

For SNB, the significance goes beyond the blockchain headline: programmable, 24/7 treasury settlement is the kind of capability that large corporates will increasingly expect, and getting there ahead of regional peers is a meaningful competitive position.