The Hashgraph Association, a Swiss non-profit organization, has partnered with the Qatar Financial Centre (QFC) to launch a $50 million digital assets venture studio. The venture studio aims to support companies in developing regulatory-compliant decentralized finance ( defi) solutions.
The Hashgraph Association Partners With Qatar Financial Centre to Launch Digital Assets Venture Studio
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Supporting Web3 Startups With Bankable Defi Solutions
The Hashgraph Association, a non-profit organization based in Switzerland, has formed a partnership with the Qatar Financial Centre (QFC) to launch a digital assets venture studio. This studio will support companies in developing regulatory-compliant decentralized finance ( defi) solutions. The venture studio, valued at $50 million, will focus on Hedera-powered Web3 startups that are building bankable defi solutions.
According to a statement, the venture studio will be connected to Qatar’s Digital Assets Lab, located within the QFC Innovation Dome. The Dome, launched in December 2023 as part of Qatar’s “National Vision 2030,” aims to accelerate research and development in the digital asset space.
The Hashgraph Association’s partnership with the Qatari government institution is the non-profit organization’s latest venture in the Middle East and North Africa region. As reported by Bitcoin.com News in February, the organization, based in Switzerland, also entered into a similar agreement with Saudi Arabia’s Ministry of Investment to launch a $250 million deep tech venture studio.
Fostering Growth in Web3 and Blockchain Ecosystems
Yousuf Mohamed Al-Jaida, the CEO and board member of QFC, commented on his organization’s collaboration with the Hashgraph Association, saying:
“This partnership is closely aligned with Qatar’s fintech strategy and is instrumental in advancing our efforts in developing and launching innovative projects that establish the country as a financial and commercial hub by 2030.”
Kamal Youssefi, president of the Hashgraph Association, described the alliance with the QFC as a strategic partnership. Youssefi said he expects this partnership to foster the growth of a vibrant Web3 and blockchain ecosystem.
In a related development, the statement revealed a collaboration between the Swiss government and the Hashgraph Association. They will undertake an entrepreneur exchange program, enabling entrepreneurs from Qatar and Switzerland to travel between the two countries.
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