Qatar Financial Centre and The Hashgraph Association Forge Partnership to Launch $50M Digital Assets Venture Studio in Doha

During a recent memorandum of understanding (MoU) signing, Yousuf Mohamed Al Jaida, the Board Member and Chief Executive Officer of Qatar Financial Centre, and Kamal Youssefi, the President of The Hashgraph Association, came together in Doha, Qatar. This event marked the beginning of a significant collaboration aimed at advancing the digital finance sector.

The Hashgraph Association (THA), a leading Swiss-based entity in digital innovation, has unveiled its partnership with the Qatar Financial Centre to initiate the Digital Assets Venture Studio. This new venture aims to bolster both local Qatari and global companies in crafting regulatory-compliant decentralized finance (DeFi) solutions and digital assets utilizing the Hedera Distributed Ledger Technology (DLT) network.

With a commitment of $50 million, the digital asset venture studio is set to concentrate on funding Hedera-enabled Web3 startups and businesses that are developing viable DeFi solutions. This initiative is planned to unfold over five years, from 2024 to 2028, with THA contributing $10 million, which accounts for 20 percent of the total investment.

The establishment of the Digital Assets Venture Studio by THA is designed to facilitate the creation of innovative, regulatory-compliant financial products and secure digital asset solutions by local and international companies. This includes the tokenization of tangible financial assets.

The collaboration aims to provide comprehensive support in legal and regulatory compliance for tokenization of real-world assets. It will offer startups and SMEs access to training, funding, engineering support, and research and development resources. Additionally, THA will organize fintech events like the Web Summit in Qatar to highlight advancements in the digital asset domain, thereby boosting Qatar’s profile as a premier hub.

Yousuf Mohamed Al Jaida expressed his enthusiasm for the partnership, highlighting its alignment with Qatar’s fintech strategy and its crucial role in propelling the country towards becoming a financial and commercial hub by 2030.

Kamal Youssefi shared his excitement about the strategic partnership, emphasizing the commitment to nurturing a dynamic Web3 and DLT/Blockchain ecosystem. This effort supports Qatar’s Vision 2030, which aims to cultivate an innovative, regulatory-compliant digital economy.

Stefan Deiss, Co-Founder & CEO of The Hashgraph Group, also expressed excitement about launching the Swiss/Qatari government-endorsed Digital Asset Venture Studio in Doha. He highlighted the studio’s role in empowering the next wave of Web3 financial entrepreneurs to launch structured financial products and tokenized financial solutions, leveraging various financial instruments and investment structures.