$150M Digital Bond Issued by Doha Bank Through Euroclear’s DLT System

Doha Bank Issues $150M Digital Bond with Instant Settlement on Euroclear DLT

Doha Bank has successfully completed a $150 million digital bond that settled instantly on Euroclear’s distributed ledger infrastructure (DLT), reflecting a growing regional shift toward regulated, permissioned digital bond platforms over public blockchains.

The Qatari lender listed its digitally native notes on the London Stock Exchange’s International Securities Market, achieving same-day settlement through Euroclear’s Digital Financial Market Infrastructure—a permissioned DLT platform operated by a central securities depository. Standard Chartered acted as sole global coordinator and arranger, leading the structuring, execution, and distribution of the bond.

The move highlights a trend in the Middle East and Asia, where banks and regulators are increasingly adopting permissioned DLT platforms to maintain regulatory control while benefiting from the efficiencies of tokenization. Public blockchains, like those used for DBS’s Ethereum-based tokenized structured notes, remain viable for cases requiring broader investor access and programmability.

“Doha Bank’s debut digital bond issuance underscores the real-world efficiencies that cutting-edge digital infrastructure is delivering for capital markets, along with growing client demand for next-generation execution capabilities,” said Salman Ansari, the bank’s global head of capital markets.

Euroclear’s DLT is designed specifically for regulated markets, offering controlled access, legal finality, and integration with existing custody and settlement systems. This structure enables T+0 settlement and automated record-keeping while remaining compatible with international standards.

“This transaction shows that same-day execution and settlement are possible on a neutral, regulated DLT platform, reducing friction and saving time while maintaining the assurance expected by issuers and investors,” said Sebastien Danloy, Euroclear’s chief business officer.

The deal is part of a broader effort to modernize capital markets infrastructure without creating parallel crypto-native systems. Platforms such as HSBC’s Orion and JPMorgan’s Onyx (now Kinexys) allow tokenized issuance to integrate with existing post-trade systems, enabling faster settlement and on-chain record-keeping while maintaining familiar custody, listing, and investor structures.

According to Standard Chartered, Doha Bank’s transaction reflects rising client demand for digital issuance, marking another step in the shift from pilot projects to fully operational markets for tokenized bonds across the Middle East and Asia.