The Hashgraph Association (THA), a Swiss-based organization working for digital enablement and within the Hedera network today, has partnered with Qatar-regulated Blade Labs, a financial technology company focused on applying distributed ledger-based technology (DLT) to traditional financial 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 user-friendly manner.
Blade Labs tokenizes funds
Tokenizing funds built on DLT enhances liquidity with real-time settlement, reduces operational costs, and improves collateral management by allowing these funds to be used as collateral across various 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.
The partnership comes at the heels of two major government-backed Venture Studio initiatives being undertaken by The Hashgraph Association in the region; together, these co-investment ventures are valued at $300 million over the next 5-years.
As part of the collaboration, Blade Labs will provide a conventional and Shariah-compliant Digital Securities Platform to support these investments. The strategic investment and partnership address the growing need for digital transformation solutions required by enterprises to participate effectively in the digital economy.
Kamal Youssefi, President of The Hashgraph Association, said,
“. . .Our strategic investment in Blade Labs, which provides innovative fintech solutions in the region, is testimony to our commitment to empowering enterprises with Web3-compliant 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 has been admitted to 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 businesses in the Middle East and beyond . . .” said Sami Mian, CEO of Blade Labs.
The Hashgraph Association has been at the forefront of key ventures in the Middle East and GCC (Gulf Cooperation Council) region. The first investment in Saudi Arabia has already commenced this year to build a $250 million DeepTech Venture Studio in Riyadh, in close partnership with the Ministry of Investment Saudi Arabia (MISA).
The second investment in Qatar aims to build a $50 million Digital Assets Venture Studio in Doha in collaboration with Qatar Financial Centre (QFC). Both partnerships are considered long-term and will span over the next five years. With this new partnership, Qatar’s digital assets strategy is expected to flourish further.
Cryptopolitan reporting by Lara Abdul Malak
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed