Doha Bank Lists $150M Digital Bond on London Stock Exchange

• Doha Bank has issued a $150 million digitally native bond that settles instantly (T+0), leveraging Euroclears DLT infrastructure to eliminate clearing delays.
• The move highlights Qatars “bifurcated” strategy: banning retail crypto trading while aggressively adopting institutional blockchain for debt markets.
• Standard Chartered and Citi managed the issuance, which lists on the London Stock Exchange, validating DLT for high-grade sovereign and corporate debt.

Doha Bank has completed a $150 million digitally native bond issuance, marking one of Qatars earliest digitally native USD bond issuances.

The floating-rate notes were listed on the London Stock Exchange‘s International Securities Market with T+0 (instant) settlement with Euroclear’s Digital Financial Market Infrastructure, D-FMI.

The issuance serves as a proof-of-concept for the ‘Blockchain without Bitcoin’ principle. While Qatar maintains a strict ban on retail cryptocurrency trading, the state is aggressively pivoting toward asset tokenization.

How Euroclears D-FMI Enabled Same-Day Settlement

As per a release, the bond was issued as Digitally Native Notes, meaning the entire lifecycle of the security, from issuance to settlement, took place in digital form.

Euroclears D-FMI uses distributed ledger technology to handle issuance, distribution, and settlement while complying fully with regulatory standards.

Standard Chartered acted as sole global coordinator and sole arranger. Meanwhile, financial giant Citi served as issuing and paying agent.

The release talked about how permissioned DLT systems are becoming preferred infrastructure for institutional digital debt.

Salman Ansari, the Global Head of Capital Markets at Standard Chartered, said that the bond shows that tokenization can improve efficiency without replacing traditional capital market structures.

According to Euroclear, the platform supports integration with secondary market trading venues, ensuring investors retain access to liquidity after issuance.

Moreover, the more than 50-year-old Commercial Bank recently launched Qatars first metaverse-enabled auto marketplace within its mobile app, allowing customers to explore virtual car showrooms, book test drives, and apply for vehicle loans digitally.

“This launch marks another step in redefining what modern banking can offer,” said Shahnawaz Rashid, EGM and Head of Retail Banking at Commercial Bank.

Qatar Pushes Tokenization While Keeping Tight Crypto Rules

As per a report from earlier this year, Qatar has maintained its ban on crypto trading and investment. However, the regulators are more interested in tokenization of assets.

The Qatar Financial Centre (QFC) is working towards digital financial products in a controlled legal environment using the 2024 Digital Asset Regulation and Investment Token Rulebook.

The agency also recently discussed the future of crypto via a report, published with Global Stratalogues and the Global Blockchain Business Council. The QFC remains massively optimistic when its comes to tokenization, with CEO Yousuf Mohamed Al-Jaida focusing on real-world utility of tokenization.