The August 3, 2026 rollout gives Dukhan Bank clients 24/7 cross-border settlement and extends Kinexys' reach in the Gulf after the network cleared more than $4 trillion cumulatively in June.
Dukhan Bank joined J.P. Morgan's Kinexys blockchain deposit account network on August 3, 2026, becoming the first Sharia-compliant lender in Qatar to use the system and giving its corporate and institutional clients 24/7 cross-border settlement. The bank said the move is part of a broader digital push, while Ahmed I. Hashem, the bank's acting Group CEO, said it reflects a commitment to innovative, Sharia-compliant services and improves "the speed, transparency, and efficiency of cross-border payments." J.P. Morgan's model takes client cash deposits, converts them into tokens on its own blockchain, and settles transactions almost instantly inside the regulated banking system; the network also offers programmable payments (rule-based transfers) for liquidity management and had processed more than $4 trillion cumulatively and more than $7 billion a day across eight currencies in June. Kinexys, built under the Onyx brand before a November 2024 rebrand, is now used by eight of the region's largest banks, according to Akshika Gupta. Dukhan Bank also said distributed-ledger technology (shared transaction record system) aligns with Islamic finance principles of clarity, certainty, and efficiency. J.P. Morgan also operates JPM Coin, ticker JPMD, a dollar-denominated deposit token rather than a stablecoin; it is live on Coinbase's Base network, a Canton Network integration is expected before the end of 2026, and Kinexys began work with DBS Bank of Singapore in November 2025 on an interoperability framework for tokenized deposits (bank deposits represented on a blockchain).