Qatar - The Qatar Financial Centre Authority (QFCA) has signed a memorandum of understanding (MoU) with SettleMint, a blockchain technology platform, to collaborate on the blockchain and digital asset initiatives in the financial industry.
The MoU aims to explore potential synergies with industry participants, including financial institutions, fintech firms, and corporate organisations, to accelerate the adoption of blockchain and digital asset business models and solutions.
"This partnership reflects the QFC’s commitment to supporting innovation and identifying new opportunities that benefit our stakeholders and Qatar’s wider financial ecosystem. To that end, we look forward to future joint initiatives with SettleMint," said Yousuf Mohamed al-Jaida, chief executive officer, the QFCA.
Blockchain technology has emerged as a game-changer across industries, improving efficiency, security, and transparency in business operations. Through the collaboration, the QFC and SettleMint will help business entities in Qatar's financial sector innovate and develop a safer and more efficient way of doing business.
Matthew Van Niekerk, founder and chief executive officer, SettleMint, said it is passionate about empowering developers to easily build on web3 infrastructure and enabling companies to unleash the full potential of blockchain technology for their clients and the ecosystems in which they operate.
Highlighting that SettleMint has been supporting the financial industry for several years from experimentation to production application; he said "we are thrilled to partner with the QFC and leverage their expertise and network to drive blockchain adoption and innovation in Qatar's financial sector."
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