Qatar Financial Centre Activates Digital Assets Lab

Qatar Financial Center (QFC) has launched its Digital Assets Lab, selecting 24 participants to develop innovative digital solutions using distributed ledger technology. Key partners include Google Cloud, Masraf Al Rayan, The Hashgraph Association, and R3.

Lab Participants to Lead Digital Transformation

In a move signaling Qatar’s embrace of digital assets, the QFC, the region’s leading onshore financial and business hub, announced the activation of its Digital Assets Lab on Sept. 14. The lab boasts a carefully curated group of 24 participants who will receive comprehensive support to develop, test, and ultimately commercialize their innovative digital solutions and services.

Among the standout participants are industry heavyweights like ALT Realtech, Bladelabs, Polygon, and Partior. These innovators are expected to leverage distributed ledger technology (DLT) to tackle industry-specific challenges and spearhead the digital transformation across various sectors.

To further bolster the lab’s capabilities and provide participants with invaluable knowledge and industry insights, the QFC has strategically partnered with a consortium of international organizations. These include Google Cloud, Masraf Al Rayan, The Hashgraph Association, and R3.

Commenting on the QFC Digital Assets Lab activation, Yousuf Mohamed Al-Jaida, CEO of QFC, said:

“I am delighted that the Digital Assets Lab has officially commenced, with 24 participants working on technologies with different applications. Their collective effort and expertise will be pivotal in advancing digital asset solutions across multiple industries. The technologies we aim to develop through the Lab will support our goal of creating a resilient and secure financial sector, fostering a thriving wealth management hub, and positioning Qatar at the forefront of innovation.”

The Digital Assets Lab, launched in October 2023, aims to support entities exploring use cases like trade finance, real-world asset tokenization and carbon credit tokenization. According to a statement, the lab and its participants will operate under the QFC Digital Assets Framework, designed to ensure a secure and transparent digital asset ecosystem.

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