Two prominent participants in the Digital Assets Lab at the Qatar Financial Centre (QFC), an influential onshore financial and business hub, have joined forces to accelerate the adoption and impact of distributed ledger technologies (DLT) and digital assets across various industries. The collaboration between SettleMint, a blockchain transformation firm, and The Hashgraph Group (THG), a Swiss-based international venture capital and technology organization, aims to make DLT solutions more accessible to organizations worldwide, fostering widespread global adoption.
The Lab, launched in September 2024, began its inaugural cohort with 29 innovators. Its primary goal is to offer a robust ecosystem for developing, testing, and commercializing advanced solutions tailored to industry challenges through digital assets and distributed ledger technologies. By fostering cooperation among start-ups, established businesses, and researchers, the Lab has positioned itself as a key player in driving innovation within the sector.
Pioneering Innovation in the Qatari Market
The partnership between SettleMint and THG is seen as a significant milestone for the Lab, reinforcing its role in shaping the industry and contributing to the Qatari market. The Lab’s efforts aim to position Qatar as a leader in emerging technologies and bolster its economy through diversification and dynamism.
Yousuf Mohamed Al-Jaida, Chief Executive Officer of QFC, acknowledged that the partnership underscores the Lab’s success in fostering collaboration and innovation. He emphasized the Lab’s role in cementing Qatar’s leadership in cutting-edge technologies and its contribution to the country’s economic diversification.
Building a Thriving Web3 Ecosystem
Kamal Youssefi, President of The Hashgraph Association (THA), highlighted the importance of strategic partnerships as a cornerstone of THA’s approach. He expressed enthusiasm for collaborating with innovative organizations to co-create value and support the development of a robust Web3 ecosystem leveraging Hedera platform capabilities. Youssefi affirmed THA’s commitment to QFC’s vision of institutionalizing digital assets and establishing Qatar as a regional hub for innovative Web3 solutions, including asset tokenization, decentralized finance (DeFi), and on-chain finance. He also emphasized the partnership’s alignment with Qatar’s 2030 digital strategic goals.
Empowering Enterprises Through Blockchain Solutions
Stefan Deiss, Founder and CEO of The Hashgraph Group, expressed excitement about collaborating with SettleMint to integrate Hedera-powered applications for enterprises in Qatar and beyond. He noted that the future of Web3 solutions lies in the tokenization of real-world assets. Deiss emphasized that combining Hedera’s energy-efficient DLT platform with SettleMint’s expertise and the Lab’s forward-thinking ecosystem would enable enterprises and governments to transition towards a digital economy.
Matthew Van Niekerk, CEO of SettleMint, underscored the Lab’s role in fostering meaningful partnerships and facilitating the development of next-generation digital asset solutions. He highlighted the strategic partnership as evidence of the Lab’s effectiveness in uniting industry leaders to achieve impactful outcomes.
Catalyzing Innovation and Sustainable Growth
This collaboration signifies the Lab’s potential to drive breakthroughs in digital assets and DLT by empowering industries and economies to embrace advanced technologies. The partnership between SettleMint and THG is expected to accelerate innovation, foster sustainable growth, and establish new benchmarks in the blockchain and digital asset sectors.
