The Hashgraph Association (THA), a Swiss-based organization committed to digital capabilities and today part of the Hedera Network, has partnered with Qatar-regulated Blade Labs, a financial technology company focused on applying distributed ledger-based technology (DLT) to traditional financial systems. products and services.
Also read: Qatar launches its CBDC project using DLT and AI technology
Blade Labs will use its DLT technology to reduce the cost of providing financial services to the masses in the MENA region. The company is currently focused on providing non-custodial fintech APIs that distribute tokenized funds across multiple jurisdictions in a compliant and easy-to-use manner.
Blade Labs tokenizes funds
Tokenizing funds built on DLT improve liquidity with real-time settlement, reduce operational costs, and improve collateral management by allowing these funds to be used as collateral across platforms. These benefits make tokenized funds an attractive option for both traditional and digital-native investors, offering better returns, capital efficiency and advanced risk management.
Also Read: The Hashgraph Association Partners with the QFC to Launch a $50 Million Digital Assets Venture Studio in Qatar
The partnership follows two major government-backed Venture Studio initiatives from The Hashgraph Association in the region; Together, these co-investment projects are valued at $300 million over the next five years.
As part of the collaboration, Blade Labs will provide a conventional and Shariah-compliant digital securities platform to support these investments. The strategic investments and partnership meet the growing need for digital transformation solutions that companies need to effectively participate in the digital economy.
Kamal Youssefisaid chairman of the Hashgraph Association,
“. . Our strategic investment in Blade Labs, which provides innovative fintech solutions in the region, is a testament to our commitment to providing enterprises with Web3-compatible solutions.”
Blade Labs is regulated in Qatar’s Digital Asset Lab
Blade Labs has already secured a fintech license within the Qatar Financial Center and been accepted into its prestigious Digital Asset Lab. To further accelerate the adoption of digital assets within the region, Blade Labs is registering for a Financial Services Regulatory Association (FSRA) license in the Abu Dhabi Global Market (ADGM).
“. . The Hashgraph Association’s deep, multi-level relationship will enable us to integrate our cutting-edge digital asset solutions with more companies in the Middle East and beyond. . .” said Sami MianCEO of Blade Labs.
The Hashgraph Association is at the forefront of key companies in the Middle East and the GCC (Gulf Cooperation Council) region. The first investment in Saudi Arabia has already started this year to build a $250 million DeepTech Venture Studio in Riyadh, in close collaboration with the Ministry of Investment Saudi Arabia (MISA).
Also read: FINNOVEX Qatar 2024 at the spearhead of the financial revolution: Fintech, AI, cybersecurity, sustainability, data-driven transformation and the future of payments
The second investment in Qatar aims to build a $50 million Digital Assets Venture Studio in Doha in partnership with Qatar Financial Center (QFC). Both partnerships are considered long-term and will span the next five years. With this new partnership, Qatar’s digital asset strategy is expected to flourish further.
Cryptopolitan reporting by Lara Abdul Malak