PANews reported on May 1 that according to The Block, JPMorgan Chase's blockchain division Kinexys (formerly Onyx) announced cooperation with eight major banks in the Middle East and North Africa (MENA), including Qatar National Bank, Saudi National Bank, First Abu Dhabi Bank, Emirates NBD Bank, Dubai Commercial Bank and Bank ABC. A JPMorgan Chase spokesperson did not disclose the names of the other two banks. These banks will use the Kinexys platform to improve cross-border payments, fund management and transaction efficiency.