The Hashgraph Association, in collaboration with Qatar Financial Centre (QFC), has announced the establishment of a $50 million digital asset venture studio in Qatar. This project, set to span from 2024 to 2028, targets the development of Web3 ventures and decentralized finance (DeFi) solutions with support from Hedera’s distributed ledger technology. The Hedera Governing Council will contribute 20% of the total funding.
Commitment to Web3 Ventures
Based in Switzerland, the Hashgraph Association specializes in global digital enablement and has partnered with QFC to launch the Digital Asset Venture Studio. Unveiled at the Qatar Economic Forum, this initiative will focus on fostering Hedera-backed Web3 ventures and businesses that provide DeFi solutions.
The studio aims to empower both local and international companies in Qatar by helping them develop innovative and regulatory-compliant financial products. Additionally, it seeks to create secure digital asset solutions, including the tokenization of real-world assets using the Hedera network.
Offering Tokenization Solutions
The collaboration will also deliver legal and regulatory-compliant tokenization solutions for real-world assets. It plans to support startups and SMEs with education, funding, and essential resources. Furthermore, the initiative will promote fintech events in Qatar, such as the Web Summit, to highlight advancements in the digital asset sector and bolster Qatar’s leadership in this industry.
This venture is a strategic part of the Hashgraph Association’s efforts to drive development in the Middle East and North Africa (MENA) region. Building on prior achievements, the partnership is poised to support technological advancements and innovative projects within the region.
Concrete Benefits for Stakeholders
Key actionable benefits from this initiative include:
- Access to $50 million in funding for Web3 and DeFi projects.
- Opportunities for local and international companies to create innovative, regulatory-compliant financial products.
- Support for startups and SMEs through education, funding, and resources.
- Legal and regulatory-compliant solutions for real-world asset tokenization.
- Enhanced visibility and networking through prominent fintech events in Qatar.
Overall, this collaboration aims to drive forward digital and financial innovation, positioning Qatar as a key player in the global digital asset landscape.