Kinexys lands its first Qatari Islamic bank as Dukhan Bank goes live
Dukhan Financial institution turned a part of J.P. Morgan’s Blockchain Deposit Account community, Kinexys, on August 3, 2026. It’s the first Sharia-compliant lender in Qatar to function on the system.
The transfer offers the financial institution’s company and institutional shoppers with around-the-clock cross-border settlement and expands J.P. Morgan’s already sizable presence amongst Gulf banks.
Dukhan Financial institution faucets Kinexys for twenty-four/7 settlement
Kinexys retains cross-border funds open across the clock. There’s no relaxation for weekends or public holidays, the financial institution’s press launch stated. A settlement rail that by no means closes removes a standing constraint for treasury desks with cash in lots of time zones.
Dukhan Financial institution, certainly one of Qatar’s main Sharia-compliant banks, stated the launch was a part of a wider digital push.
“Going reside on Kinexys’ Blockchain Deposit Account community displays Dukhan Financial institution’s dedication to delivering revolutionary, Sharia-compliant options that reply to the evolving wants of our shoppers,” stated Ahmed I. Hashem, the financial institution’s appearing Group CEO. He continued that the expertise sharpens “the pace, transparency, and effectivity of cross-border funds.”
J.P. Morgan accepts money deposits straight from shoppers after which converts these deposits into tokens on a blockchain it operates. Settlement takes place virtually immediately inside the regulated banking system, as Cryptopolitan reported when the platform expanded in June 2026. The community additionally affords programmable funds, which it’s advertising and marketing as a strategy to higher handle liquidity.
In June, Kinexys had cleared greater than $4 trillion in cumulative transactions and was clearing greater than $7 billion a day in eight currencies. J.P. Morgan added the Australian greenback, Hong Kong greenback, Japanese yen, Chinese language renminbi, and Singapore greenback to a listing already containing the US greenback, Euro, and British pound.
J.P. Morgan constructed the infrastructure below the Onyx model, then renamed it Kinexys in November 2024.
J.P. Morgan’s Gulf roster retains rising
The Blockchain Deposit Account community is now being utilized by eight of the area’s largest banks, stated Akshika Gupta, world head of product gross sales and options at Kinexys. She added that the Dukhan Financial institution onboarding helps establishments “leverage the following section of digital funds.”
Dukhan Financial institution additionally employed an argument of Sharia compliance. Distributed-ledger expertise can strengthen ideas akin to readability, certainty, and effectivity in transactions, near the necessities of Islamic finance, its press launch stated.
J.P. Morgan operates JPM Coin, ticker JPMD, a dollar-denominated deposit token that the financial institution considers a regulated financial institution legal responsibility, not a stablecoin. As beforehand reported by Cryptopolitan, the token is reside on Coinbase’s Base community, and an integration with Canton Community is predicted earlier than the top of 2026.
In November 2025, Kinexys and DBS Financial institution of Singapore began creating an interoperability framework to switch tokenized deposits between numerous blockchain programs.
