Two key players in the Digital Assets Lab of the Qatar Financial Centre (QFC), a leading onshore financial and business hub in the region, entered into a strategic partnership to accelerate the impact of distributed ledger technologies (DLT) and digital assets across industries. This alliance between SettleMint, the blockchain transformation company, and The Hashgraph Group (THG), a Swiss-based international business, venture capital and technology company, aims to make DLT more accessible for organisations worldwide and drive their adoption on a global scale.
In September 2024, the Lab launched its inaugural cohort, comprising 29 innovators, with the goal of providing them with a comprehensive ecosystem to develop, test, and commercialise cutting-edge solutions addressing industry needs and challenges through digital assets and distributed ledger technologies.ย
The Lab was established to foster collaboration among start-ups, businesses, and researchers to develop innovative solutions, products, and services in digital assets and distributed ledger technologies. The partnership between SettleMint and THA marks a milestone for the Lab, highlighting its potential to shape the industry and contribute significantly to the Qatari market.
Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, commented on the partnership: โThis partnership between SettleMint and The Hashgraph Group is a testament to the QFC Digital Assets Labโs success in fostering collaboration and driving innovation. By facilitating partnerships like this, the Lab strengthens Qatarโs position as a leader in emerging technologies while contributing to a more dynamic and diversified economy.โ
Kamal Youssefi, President, The Hashgraph Association (THA), commented: โThe cornerstone of our strategy at THA is strategic partnerships. Our ultimate aim is to empower a thriving community and build up a vibrant Web3 ecosystem that leverages Hedera platform capabilities. We are excited to partner with innovative organisations to co-create value and contribute towards building an empowered digital future. THA strongly believes in QFCโs vision, and it is strategy to institutionalise Digital Assets and establish Qatar as a leading regional hub for innovative web3 solutions covering Asset Tokenization, Digital Assets, DeFi and Onchain Finance, and we look forward to working with SettleMint and other ecosystem partners to contribute towards Qatarโs 2030 Digital strategic goals.โ
Stefan Deiss, Founder and CEO of The Hashgraph Group, said: “We’re thrilled to be both investing in and partnering with SettleMint as we work to integrate Hedera-powered applications for enterprises and organizations in Qatar and globally. The future of Web3 solutions will include the tokenization of Real-World Assets, and the combined forces of Hedera’s energy-efficient DLT platform with SettleMint and the futuristic ecosystem at QFC’s Digital Assets Lab will empower enterprises and governments towards a digital economy.
Matthew Van Niekerk, Chief Executive Officer, SettleMint, commented: “The QFC Digital Assets Lab is building a powerful ecosystem that fosters meaningful partnerships, lasting collaborations, and the next generation of digital asset solutions in the region and beyond. This investment and strategic partnership highlight the Labโs effectiveness in bringing together industry-leading companies to drive impactful outcomes.โ
The formation of this partnership highlights the Labโs potential to catalyse collaboration and facilitate breakthroughs in the digital assets and DLT fields. This collaboration will empower industries and economies to embrace cutting-edge technologies, fostering sustainable growth and development.
