A bold investment

The Hashgraph Association and Qatar Financial Centre Unveil $50 Million Digital Assets Venture Studio

The Hashgraph Association (THA), a Swiss-based organization dedicated to global digital enablement, has entered into a strategic partnership with the Qatar Financial Centre (QFC). Together, they are launching a $50 million Digital Assets Venture Studio designed to support both Qatari and international companies in creating regulatory-compliant decentralized finance (DeFi) solutions and digital assets utilizing the Hedera Distributed Ledger Technology (DLT) network.

The announcement was made during the Qatar Economic Forum, which is being held in Doha until May 16, 2024. The venture studio, which will operate from 2024 to 2028, will invest in startups and enterprises developing Web3 technologies powered by Hedera. The Hedera Governing Council is contributing $10 million, accounting for 20 percent of the total funding.

This initiative will empower local Qatari firms and international portfolio companies to develop innovative, compliant financial products and secure digital asset solutions. A key aspect of the studio’s mission is to facilitate the tokenization of real-world financial assets on the Hedera DLT network.

The Digital Assets Venture Studio will be integrated into Qatar’s Digital Assets Lab, located within the QFC Innovation Dome. Launched in December 2023, the Digital Assets Lab is a core component of Qatar’s “National Vision 2030,” aiming to advance research and development in the digital asset sector.

The partnership will emphasize the creation of legal and regulatory-compliant asset tokenization solutions, offering startups and SMEs training, financing, engineering support, and resources for research and development. THA will also organize fintech events, including the Web Summit in Qatar, to highlight advancements in digital assets and bolster Qatar’s reputation as a leading hub for DeFi and digital assets.

Yousuf Mohamed Al-Jaida, board member and CEO of Qatar Financial Centre, stated, “The Qatar Financial Centre is pleased to welcome The Hashgraph Association Digital Assets Venture Studio to the QFC Digital Assets Lab. This partnership aligns closely with Qatar’s fintech strategy and plays a crucial role in our efforts to develop and launch innovative projects, positioning the country as a financial and commercial hub by 2030.”

This collaboration is part of a broader strategy to drive development in the Middle East and North Africa (MENA) region. Earlier this year, THA signed a strategic agreement with the Saudi Ministry of Investment (MISA) to establish a $250 million DeepTech Venture Studio. This studio focuses on the convergence of advanced technologies such as AI, IoT, blockchain/DLT, robotics, and quantum computing.

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