Hashgraph Association to Explore Five Digital Asset Use Cases in Qatar

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by Giorgi Kostiuk

2 years ago

Made with AI

  1. Exploration of Digital Assets
  2. Regulatory Framework for Digital Assets in Qatar
  3. $50 Million Partnership with Qatar Financial Centre


    4. The Hashgraph Association (THA), a nonprofit organization utilizing Hedera Hashgraph’s decentralized ledger technology, announced a collaboration with Qatari stakeholders to explore five digital asset use cases over the next twelve months.

    Exploration of Digital Assets

    The organization stated on its official LinkedIn platform that it would explore tokenization of equities, real estate, and sukuk, an Islamic financial instrument similar to conventional bonds. The nonprofit also plans to investigate digital asset use cases for sustainability, such as carbon credits. Additionally, THA announced it would include consumer engagement and loyalty programs in its exploration of digital asset use cases with Qatari stakeholders.

    Regulatory Framework for Digital Assets in Qatar

    On September 1, the Qatar Financial Centre Regulatory Authority (QFCRA) and the Qatar Financial Centre (QFC) released a set of regulations governing digital assets. According to THA, the creation of these regulations would assist in their work within the local digital assets ecosystem and bolster the region’s global position in financial technology. THA wrote: "These regulations strengthen The Hashgraph Association's role in fostering innovation and trust within the digital assets ecosystem, further solidifying the region's position as a global leader in fintech."

    $50 Million Partnership with Qatar Financial Centre

    The new update is part of THA’s ongoing partnership with QFC, announced earlier this year. At the Qatar Economic Forum on May 16, THA announced a $50 million partnership with QFC to create a digital assets venture studio that will support Qatari and international firms in developing regulatory-compliant solutions built on Hedera. The venture studio will invest in Hedera-powered enterprises and startups building decentralized finance (DeFi) projects. The program will run from 2024 to 2028.

    The collaboration between the Hashgraph Association and the Qatar Financial Centre aims to explore and support digital asset use cases while strengthening the region’s position in the fintech industry.

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