THA Partners With QFC To Launch $50Mn Digital Assets Venture Studio In Qatar

(MENAFN- Gulf Times) The Hashgraph Association (THA), the Swiss-based entity at the forefront of global digital enablement, has entered into a strategic partnership with the Qatar Financial Centre (QFC) to launch a $50mn Digital Assets Venture Studio on the sidelines of the Qatar Economic Forum 2024
The studio is a platform to support local Qatari and global portfolio companies in the development of regulatory-compliant decentralised finance (DeFi) solutions and digital assets built on the Hedera Distributed Ledger Technology (DLT) network.
"This partnership is closely aligned with Qatar's fintech strategy and is instrumental in advancing our efforts in developing and launching innovative projects that establish the country as a financial and commercial hub by 2030," said QFC Authority chief executive officer Yousuf Mohamed al-Jaida.
The digital assets venture studio will focus on investments in Hedera-powered Web3 startups and enterprises building bankable DeFi solutions. The programme will span over the next five years (2024-28) with The Hashgraph Association investing $10mn (20%).
THA will launch a custom-designed studio to enable local Qatari firms as well as international portfolio companies to build innovative regulatory-compliant structured financial products and secure digital asset solutions, which will include the tokenisation of real-world financial assets, on the Hedera DLT network.
The studio will be part of Qatar's Digital Assets Lab within the QFC Innovation Dome, an initiative launched in December 2023 as part of Qatar's National Vision 2030 to accelerate research and development within the digital asset space.
"We are committed to investing and fostering the growth of a vibrant Web3 and DLT/blockchain ecosystem with a special focus on decentralised finance and digital assets in support of Qatar's Vision 2030 aimed at fostering an innovative regulatory compliant digital economy,” said Kamal Youssefi, President of THA.
Earlier this year, THA signed a strategic partnership with the Saudi Ministry of Investment, for a $250mn DeepTech venture studio focused on enabling the convergence of deep technologies such as AI, IoT, Blockchain/DLT, Robotics, and quantum computing.
"We are excited to launch our Swiss/Qatari government-endorsed digital assets venture studio in Doha that will empower the next generation of Web3 financial entrepreneurs by supporting the launch of structured financial products and tokenised financial solutions, leveraging financial instruments and investment structures such as equity, funds, real estate, and aircraft financing," said Stefan Deiss, co-founder and chief executive officer of THA.


Gulf Times

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