(MENAFN- The Peninsula)
Joel Johnson
|
The Peninsula
Doha, Qatar: International companies are thriving to build well-established digital assets venture studios to help Qatari and foreign entities implement regulatory-compliant and structured financial products along with digital asset solutions.
In an interview with The Peninsula, Kamal Youssefi, President of The Hashgraph Association (THA) expressed that the partnership with Qatar Financial Center (QFC) will offer expertise and industry insights to guide participants in the Digital assets lab.
He said:“We will offer our knowledge into the realm of tokenization of real-world financial assets. This is now even more applicable after QFC and the Central Bank of Qatar released the digital assets framework and have onboarded the first 24 participants.”
The newly launched Qatar's digital asset framework will not only allow organisations to tokenize securities, bonds, property, and other financial assets but also build token exchanges enabling the trade of these tokenized assets to increase liquidity in the financial market sector.
The official stressed that the company aims to build an innovative Web3 ecosystem for enterprises, governments, and entrepreneurs across the globe by partnering with QFC.
“Our initiatives empower, fund, scale, and accelerate the Hedera Hashgraph DLT platform adoption globally and we do this through our partnership, certification, innovations, ventures, and enterprise program,” Youssefi said.
THA also signed an agreement with The Ministry of Investment in Saudi Arabia to launch a deep tech studio to grow Web3, AI, Blockchain, and other technology-driven projects.
With QFC and the $50m digital asset venture studio, the Group targets investments in Hedera-powered Web3 startups and enterprises building bankable DeFi (Decentralized Finance) solutions. The program is expected to continue until 2028 with THA contributing 20 percent ($10m).
“At The Hashgraph Association, we strongly believe that digital economies need to be built with building blocks such as digital assets, stablecoins, CBDCs, and Web3 companies that utilise technologies such as decentralisation, AI, and IoT (Internet of Things). We believe that QFC's initiative is doing just that. It is building the necessary elements for digital economies to thrive,” the official remarked.
QFC's digital assets lab incorporates all regulations of both the digital assets framework, and the DLT framework recently enacted, along with the partnerships built with tech players, startups, and VCs.
Youssefi stressed that“One of the most important requirements for startups to flourish and succeed is having the basic regulatory frameworks in place, as well as an environment that can support them in building the technology, funding their projects, and providing them with connections to potential customers.”
“In Qatar, all these are in place, and we are ready at The Hashgraph Association to continue to support this strategy, as the digital economy flourishes in Qatar,” he added.
The Hashgraph Association also recently announced that within the next 12 months it will work together with stakeholders to explore implementing five innovative use cases, in the areas of equity tokenization, Sukuk Islamic Bonds tokenization, real estate tokenization, sustainability ESG Carbon credits, as well as consumer engagement and loyalty programs.
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