The Hashgraph Association has announced that it will collaborate with stakeholders in Qatar to explore five digital asset use cases over the next twelve months.
On its official LinkedIn platform, the organization announced it would research the tokenization of equities, real estate, and sukuk, an Islamic financial instrument comparable to conventional bonds.
The nonprofit organization would also investigate the potential applications of digital assets for sustainability, including carbon credits.
Additionally, THA declared that it would incorporate consumer engagement and loyalty programs into its investigation of digital asset use cases with stakeholders in Qatar.
Qatar Launches a Regulatory Framework for Digital Assets
The Qatar Financial Centre Authority (QFCA) and Qatar Financial Centre Regulatory Authority (QFCRA), the regulators responsible for the Qatar Financial Centre (QFC), issued a set of regulations on Sept. 1 that regulate digital assets.
THA is confident that establishing regulations regarding digital assets in Qatar would facilitate its operations within the local digital assets ecosystem and improve the region’s global status in financial technology. THA composed the following:
“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.”
The organization also stated that it would facilitate the exchange of knowledge, regulatory clarity, and international visibility to advance the region as a leader in digital assets in addition to the QFC.
$50M Venture studio with the Qatar Financial Centre
Earlier this year, THA announced an ongoing partnership with the QFC, which includes the new update.
At the Qatar Economic Forum on May 16, THA disclosed a $50 million partnership with the Qatar Financial Corporation (QFC) to establish a digital assets venture studio. This studio will assist Qatari and international businesses develop regulatory-compliant solutions based on Hedera.
Hedera-powered enterprises and startups that are developing decentralized finance (DeFi) initiatives will be the focus of the venture studio’s investment. 2024 to 2028 will be the duration of the program.
As the announcement indicates, the partnership will also devote additional attention to providing regulatory-compliant tokenization solutions. It would also offer training, engineering, and financing resources for research and development to entrepreneurs and small to medium enterprises (SMEs).
