Commercial Bank of Dubai (CBD) has taken a major step in financial technology by becoming the first bank in the Middle East to integrate J.P. Morgan’s blockchain-powered Liink network. This move aims to improve the speed, accuracy, and security of cross-border payments by allowing businesses to verify account details before initiating transactions.

A Smarter Approach to International Payments

The integration of J.P. Morgan’s Confirm—an application within the Kinexys Liink platform—into CBD’s corporate banking services is designed to reduce payment errors, fraud risks, and transaction delays. The technology enables companies to confirm the validity of beneficiary accounts in real-time, eliminating reliance on third-party verification services and reducing operational costs.

Cross-border transactions, especially in high-volume corridors like the U.S. and India, often face challenges related to incorrect account details, leading to failed payments and additional fees. With Confirm, CBD clients can now pre-validate account ownership and status, ensuring smoother and more reliable fund transfers.

A Step Toward a More Secure and Efficient Financial Ecosystem

CBD CEO Dr. Bernd van Linder emphasized the broader impact of this integration:
“This initiative isn’t just about improving our banking services—it’s about strengthening the UAE’s position as a global financial hub. By enhancing the efficiency of cross-border transactions, we’re supporting businesses and contributing to a more connected and secure financial ecosystem.”

Blockchain technology has been a growing focus in Dubai’s fintech strategy, with regulatory frameworks encouraging innovation in secure digital transactions. The adoption of Liink aligns with these efforts, further positioning the UAE as a leader in financial technology.

J.P. Morgan’s Kinexys Expands its Reach

Kinexys, J.P. Morgan’s blockchain division, launched in 2020 to streamline global payments through decentralized verification processes. Naveen Mallela, Global Co-Head of Kinexys, highlighted the significance of CBD’s participation:
“As more financial institutions embrace blockchain for payments, partnerships like this help drive the industry toward more efficient and transparent global transactions.”

What’s Next?

CBD’s adoption of Liink is just the beginning. The bank plans to expand this service to additional international markets in the coming months, focusing on regions with high cross-border transaction volumes. As blockchain technology continues to evolve, CBD’s integration of digital verification tools signals a shift toward a more seamless and fraud-resistant banking experience for businesses across the region.