Doha – Qatar: Qatar Financial Center Authority (QFCA), the legal and fiscal arm of Qatar Financial Center (QFC), a leading onshore financial and business center in the region, has signed a Memorandum of Understanding (MoU) with SettleMint NV , a trusted blockchain technology platform, to collaborate on blockchain and digital asset initiatives in the financial industry.
The agreement aims to explore potential synergies with industry participants, including financial institutions, fintech firms and corporate organizations, to accelerate the adoption of blockchain and digital asset business models and solutions.
Yousuf Mohamed Al-Jaida, CEO, QFC, said: “We are delighted to partner with SettleMint Blockchain LTD to explore the use cases of blockchain technology and digital assets in Qatar’s financial industry. This partnership reflects QFC’s commitment to supporting innovation and identifying new opportunities which will benefit our stakeholders and Qatar’s wider financial ecosystem. To that end, we look forward to future joint initiatives with SettleMint.”
Matthew Van Niekerk, Founder and CEO, SettleMint, comments on the MoU: “At SettleMint, we are passionate about empowering developers to easily build on web3 infrastructure and enabling companies to unlock the full potential of blockchain technology for their customers and ecosystems . where they operate. SettleMint has been supporting the financial industry for several years from experimentation to production application. We are excited to partner with QFC and leverage their expertise and network to drive blockchain adoption and innovation in Qatar’s financial sector.”
Blockchain technology has emerged as a game changer across industries, improving the efficiency, security and transparency of business operations. Through the collaboration, QFC and SettleMint will help business entities in Qatar’s financial sector to innovate and develop a safer and more efficient way of doing business.
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ABOUT QATAR FINANCIAL CENTER
Qatar Financial Center (QFC) is an onshore business and financial center located in Doha, providing an excellent platform for firms to do business in Qatar and the region. QFC offers its own legal, regulatory, tax and business environment, which allows up to 100% foreign ownership, 100% repatriation of profits, and charges a competitive 10% corporate tax rate on locally sourced profits. QFC welcomes a wide range of financial and non-financial services firms.
For more information on the permitted activities and benefits of setting up in QFC, please visit www.qfc.qa
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About SETTLEMINT BLOCKCHAIN LTD
SettleMint is the world’s most complete high-performance low-code Blockchain development platform that empowers engineering teams to build, integrate and launch any Blockchain application with speed and delivery at scale. By offering the world’s most complete full-stack development experience, SettleMint enables businesses and public organizations to quickly move from pilot to production and reap the full benefits of Blockchain, whether they want to optimize backend processes, digitally transform their business or simplify complex and costly . data exchange procedures. Build on any supported chain, in a managed cloud instance, bring your own cloud, or deploy fully on-premises.
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