The Hashgraph Association (THA) and the Qatar Financial Centre (QFC) are joining hands to launch a $50 million Digital Asset Venture Studio in Doha. This initiative aims to accelerate the development of compliant DeFi solutions and digital assets built on the Hedera network.
A Hub for Innovation
The Venture Studio will provide funding and support to startups over the next five years, with Hashgraph contributing $10 million to the pool.
This initiative aligns with Qatar's National Vision 2030, which emphasizes technological advancement.
The studio will be housed within the QFC Innovation Dome's Qatar Digital Asset Lab, fostering a collaborative environment.
Building on Success
This partnership follows THA's collaboration with the Saudi Ministry of Investment on a $250 million DeepTech Venture Studio focused on emerging technologies.
Quotes
Stefan DEISS, THA co-founder and CEO, highlights the empowering nature of the Venture Studio for aspiring Web3 entrepreneurs in both Qatar and Switzerland.
An entrepreneur exchange program facilitated by the canton of Schwyz will enable cross-border collaboration.
THA plans to launch a sandbox environment for testing and refining use cases leveraging Hedera technology.
This venture studio marks a significant step towards fostering a thriving Web3 ecosystem in Qatar, powered by the security and scalability of the Hedera network.
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Source: CryptoNews
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