Dukhan Bank has joined J.P. Morgan’s blockchain-based deposit account network, Kinexys, becoming the first Sharia-compliant lender in Qatar to operate on the platform.

The integration, completed on August 3, 2026, is expected to give the bank’s corporate and institutional clients continuous cross-border payment and settlement capabilities. It also expands J.P. Morgan’s footprint among financial institutions in the Gulf region as banks continue investing in digital payment infrastructure.

Through its integration with Kinexys, Dukhan Bank’s corporate and institutional clients can access around-the-clock cross-border settlement via J.P. Morgan’s blockchain-based deposit account network. Kinexys is designed to support payment and settlement activity at all hours, including weekends and public holidays, which can be relevant for corporate treasury operations that need to move funds across different time zones without waiting for standard banking hours.

Dukhan Bank said the launch is part of its broader digital transformation strategy. The bank said the technology would support the development of innovative financial services while remaining compliant with Sharia principles.

Ahmed I. Hashem, acting group chief executive officer of Dukhan Bank, said the integration reflects the lender’s effort to provide Sharia-compliant solutions that respond to changing client requirements. He said the technology is expected to improve the speed, transparency, and efficiency of international payments.

Blockchain Deposits Support Faster Settlement

J.P. Morgan’s system accepts cash deposits from participating clients and represents those deposits as digital tokens on a blockchain operated by the bank. Transactions can then be settled rapidly within the regulated banking system.

The platform also offers programmable payment capabilities, which can allow institutions to set automated conditions for transferring funds and managing liquidity. J.P. Morgan says these features are intended to give corporate clients greater flexibility in coordinating payment activity and treasury operations.

The Kinexys network combines tokenized bank deposits with programmable payment tools to support faster settlement and more efficient liquidity management within a regulated banking framework.

By June 2026, the network had processed more than $4 trillion in cumulative transactions and was handling more than $7 billion in daily transaction volume, according to figures previously disclosed by J.P. Morgan.

Kinexys supports transactions in eight currencies. The Australian dollar, Hong Kong dollar, Japanese yen, Chinese renminbi, and Singapore dollar were added to the network alongside the US dollar, euro, and British pound.

J.P. Morgan originally developed the blockchain infrastructure under the Onyx brand before renaming the business Kinexys in November 2024.

J.P. Morgan Expands Its Gulf Banking Network

According to Akshika Gupta, global head of product sales and solutions at Kinexys, Dukhan Bank’s addition brings the number of major regional banks using the Blockchain Deposit Account network to eight.

Gupta said the onboarding would help financial institutions participate in the next stage of digital payment development. The expansion reflects growing interest among banks in using distributed ledger technology to improve payment processing, settlement availability, and operational efficiency.

Dukhan Bank Becomes Qatar’s First Islamic Bank to Go Live on Kinexys by J.P. Morgan’s Blockchain Deposit Account Network. pic.twitter.com/U3B3tok3WJ — Dukhan Bank (@DukhanBank) August 4, 2026

Dukhan Bank Becomes Qatar’s First Islamic Bank to Go Live on Kinexys by J.P. Morgan’s Blockchain Deposit Account Network. pic.twitter.com/U3B3tok3WJ — Dukhan Bank (@DukhanBank) August 4, 2026

Dukhan Bank also pointed to the potential compatibility between distributed ledger technology and Islamic finance principles. The bank said blockchain-based systems could strengthen transparency, certainty, and efficiency in financial transactions, which are important considerations in Sharia-compliant banking.

The partnership expands Kinexys’ Gulf banking network while supporting Dukhan Bank’s efforts to deliver transparent and efficient digital payment services aligned with Sharia-compliant financial principles.

بنك دخان أول بنك إسلامي في قطر يدشّن عملياته عبر منصة المدفوعات الرقمية Kinexys، شبكة حسابات الإيداع القائمة على تقنية البلوك تشين والتابعة لبنك جي بي مورجان. pic.twitter.com/8o8M0uJwMG — Dukhan Bank (@DukhanBank) August 4, 2026

بنك دخان أول بنك إسلامي في قطر يدشّن عملياته عبر منصة المدفوعات الرقمية Kinexys، شبكة حسابات الإيداع القائمة على تقنية البلوك تشين والتابعة لبنك جي بي مورجان. pic.twitter.com/8o8M0uJwMG — DukhanBank (@DukhanBank) August 4, 2026

J.P. Morgan also operates JPM Coin, a US dollar-denominated deposit token identified by the ticker JPMD. The bank describes the token as a regulated deposit liability rather than a stablecoin.

The token is operating on Coinbase’s Base blockchain network, and an integration with Canton Network is expected before the end of 2026. J.P. Morgan said the planned expansion could increase the token’s connectivity with other institutional blockchain systems.

In a separate initiative, Kinexys and Singapore-based DBS Bank began developing an interoperability framework in November 2025. The project is intended to support the transfer of tokenized deposits across different blockchain networks.

Dukhan Bank’s adoption of Kinexys marks another step in the expansion of blockchain-based banking infrastructure across the Gulf. The partnership adds to J.P. Morgan’s regional network while giving the Doha-based lender a payments rail built around 24/7 settlement, tokenized deposits, and programmable transfer tools that are increasingly being tested by large financial institutions.