QFC To Launch $50M Digital Assets Venture Studio
Date
5/17/2024 4:46:58 AM
(MENAFN- The Peninsula) The Peninsula
Doha, Qatar: The Hashgraph Association (THA), the Swiss-based organization at the forefront of global digital enablement, has today announced the signing of a strategic partnership with the Qatar financial Centre to launch a Digital Assets Venture Studio, a platform to support local Qatari and international portfolio companies in the development of regulatory-compliant decentralized finance (DeFi) solutions and digital assets built on the Hedera Distributed Ledger technology (DLT) network.
The $50m digital asset venture studio will focus on investments in Hedera-powered Web3 startups and enterprises building bankable DeFi solutions. The program will span over the next five years (2024-2028) with The Hashgraph Association contributing to 20 percent ($10m).
The Hashgraph Association will launch a custom-designed Digital Assets Venture Studio to enable local Qatari companies, as well as international portfolio companies to build innovative regulatory-compliant, structured financial products and secure digital asset solutions, which will include the tokenization of real-world financial assets.
The partnership will focus on delivering legal and regulatory-compliant real-world asset tokenization solutions, providing startups and SMEs with training, financing, engineering, and resources for research and development. THA will also facilitate fintech events such as the Web Summit in Qatar to showcase developments in the digital asset space, enhancing Qatar's visibility as a leading hub.
Yousuf Mohamed Al Jaida, Board Member and Chief Executive Officer of Qatar Financial Centre, noted,“The Qatar Financial Centre is pleased to welcome The Hashgraph Association Digital Assets Venture Studio to the QFC Digital Assets Lab. 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.”
Kamal Youssefi, President of The Hashgraph Association, said:“We are delighted to sign this strategic partnership with the Qatar Financial Centre in Doha Qatar. We are committed to investing and fostering the growth of a vibrant Web3 and DLT/Blockchain ecosystem with a special focus on decentralized finance and digital assets in support of Qatar's Vision 2030 aimed at fostering an innovative regulatory compliant digital economy." Stefan Deiss, Co-Founder & CEO of The Hashgraph Group, said:“We are excited to launch our Swiss/Qatari government-endorsed Digital Asset Venture Studio in Doha that will empower the next generation of Web3 financial entrepreneurs by supporting the launch of structured financial products and tokenized financial solutions, leveraging financial instruments and investment structures such as equity, funds, real estate and aircraft financing.”
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